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Where We Have Been

Where We Have Been. Quetzal : Define your business. Jones Blair: Market Targeting. MARKSTRAT. Familiarization of systems/environment Basic research needs evaluation Initiation of R&D projects Marketing projections (Plan) Moving from tactical to strategic planning. Positioning.

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Where We Have Been

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  1. Where We Have Been • Quetzal : Define your business. • Jones Blair: Market Targeting

  2. MARKSTRAT • Familiarization of systems/environment • Basic research needs evaluation • Initiation of R&D projects • Marketing projections (Plan) • Moving from tactical to strategic planning

  3. Positioning

  4. “Once a mind is made up, it’s almost impossible to change it.” - Al Trout & Jack Ries, the “fathers”of positioning

  5. Inputs to the positioning decision? • Target Market • Firm’s SCAs • Competition

  6. Mkt Analysis Segmentation TM Selection Implications for Mktg Strat * Product * Price * Channels * Promo Internal Corporate Analysis Package of Benefits Selection Competitive Analysis Differentiation THE PROCESS OF POSITIONING Position Quelch, John R. (1982) “Frank Homer LTD - Teaching Note,” in Cases in Advertising and Promotion Management, 2d ed., Business Publications, Inc.

  7. “Positioning Audit,”Trout & Ries • What is our position?

  8. Important Dimensions?

  9. Performance BMW Luxury

  10. “Positioning Audit” • What is our position? • What position do we want?

  11. BMW Z3

  12. “Positioning Audit” • What is our position? • What position do we want? • Where is our competition relative to our desired position?

  13. Exotic, Expensive & Italian Porsche Mercedes Swedes Japanese Jaguar Lincoln General Motors Subaru Yugo BMW

  14. “Positioning Audit” • What is our position? • What position do we want? • Where is our competition relative to our desired position? • Can we defend our position?

  15. Mercedes Lincoln Exotic, Expensive & Italian Porsche BMW Swedes Japanese Jaguar General Motors Subaru Yugo

  16. “Positioning Audit” • What is our position? • What position do we want? • Where is our competition relative to our desired position? • Can we defend our position? • Is our position long-term?

  17. “Positioning Audit” • What is our position? • What position do we want? • Where is our competition relative to our desired position? • Can we defend our position? • Is our position long-term? • Does our promotion reflect our position?

  18. Sample Markstrat Process for Positioning • Step 1: Where are we? • Step 2: Where do we want to be? • Step 3: Where do we expect the market to be in X time period? • Step 4: How much will our move cost us? (R&D costs, Push/Pull costs) • Step 5: What attribute changes brings us to our desired position?

  19. Step 1:Where are we? • Examine perceptual map • Too close = cannibalization • Semantic vs. Perceptual map • Matter of cost vs. accuracy

  20. Step 2:Where do we want to be? • Optimal Brand position • Prediction of ideal points • Evolution of ideal points over time

  21. Step 3:Where is the market? • Forecast Market Share • Examine Consumer survey research for purchase intentions data • Brand awareness/brand positioning • Expected Brand Demand • ESS X EPI = EBS • Analyze Per segment and then total

  22. Step 4:How much cost? • Must factor in R&D, Advertising, and sales force expenditures. • Impact of production on transfer cost • Experience curve (productivity gains) • Intro new products (experience effect) • Unit transfer costs decrease as a function of new product design • See Brand Contribution: Marketing Plan

  23. Step 5:What attribute changes? • Pull in data from MDS or Semantic scales indicating desired physical characteristics. • Examine actual vs. perceived attributes (Product Design) • Estimate brand perceptions • Estimate physical characteristics for positioning

  24. Repositioning:What to do after product has been on the market. • Specify Target Segment(s) • Specify perceptual objectives for the brand. (pick 2) • Economy, performance, convenience • Allocate advertising budget. • Allocate ad research budget.

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