6: Marketing Strategy Toolkit: Branding Flashcards Preview

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Flashcards in 6: Marketing Strategy Toolkit: Branding Deck (12)
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Physical positioning

Perceptual positioning

Assessing product offering based on a set of physical characteristics

Includes product presentation, past experience and opinions of others

*value proposition*


Deciding on positioning

Based on gap in the market
Based on strengths and capabilities: what do I have to deliver to the market?


Positioning statement

Overview consisting of brand name, category(product/industry), main segment, key benefit.

Nutrigrain is a breakfast cereal for YA males that are looking for sustained energy


Global branding

Can be consumed differently all around the world. E.g. red bull: stay awake, illegal, partying.

Reasons: economies of scale, decrease marketing costs, power and scope, consistency in brand images, ability to leverage good ideas, uniformity of marketing practices


Reasons to local brand

Differences in:
Consumer wants and needs
Response to marketing mix elements
Brand and product development and competitive environment
Legal environment
Marketing institutions
Admin procedures


Private local branding

Your product and another companies label. Advantages: improved quality of private label products, development of premium private label product, shift in retailer power, expansion to new product categories, economic downturn, internationalisation of retail chains


Brand extension

Using established brand name/trademark on new products, so to increase sales.

Can reduce risk perception, decrease costs, increase efficiency of promotion, avoid cost of new names, etc.


Strategic market plans

Offensive: invest to grow, improve position, new market entry. Earlier stages of life cycle.

Defensive: protect position, optimise/monetise position, harvest/divest. Later stages.


Product life cycle: intro

Pioneer or follower? Pioneers have first mover advantage (100% market share, no competition, high price/margins, educating the market, potential barrier to entry)
Risks: poor market response, expensive, legislative


Advantages to brand strategy

Financial advantages - Highest sales, high margins, guarantee of future income

Strategic advantages – position in relation to competition/trade

Relevance of the labour market

Management advantages – extension/endorsement (amazon kindle), global branding


Customer based brand equity

For a brand to have value:

Differential affect

Customer brand knowledge

Customer response to brand marketing


Brand creation

Brand elements (name, logo, slogan, characters)

Secondary associations (other brands we associate ourselves with)

Standard marketing communications