Study notes for points-of-difference (POD) and points-of-parity (POP)

Marketing Strategy, Positioning / By

What is meant by Points-of-difference (POD)?The aspects of the product offering that are relatively distinct to the offerings of like competitors.What is meant by Points-of-parity (POP)?The aspects of the product offering that are largely similar to the offerings of like competitors.Should a brand emphasize POD or POP?Emphasize POD when…The firm is the a market leaderThe …

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Study Notes for Positioning Examples

Positioning / By

Main positioning categoriesBy product attributeBy userBy product classAgainst competitionBy use or applicationBy quality or valueBy using a combination of the above optionsHow to choose the best positioning approach?Market gaps – is there a viable gap?Substance and support – can we deliver a marketing mix to create that positioning?Market need – does the market want this …

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Study Notes for Positioning

Positioning / By

What is positioning?Positioning is defined as the target market’s perception of the product’s key benefits and features, relative to the offerings of competitive products.The important aspects of this definition are:Positioning is the perception held by consumersThe focus is on the perceptions of the target marketOnly the key features and benefits can be effectively communicated for …

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Study Notes for niche marketing

Marketing Strategy, Positioning / By

What is niche marketing?Niche marketing is a specialized market offering focused on the needs of one tightly-defined market segment.Usually the niche marketer only offers a very limited product range to this segment. As a result, the niche marketer builds a reputation (brand equity) for being THE expert for providing their products to the market segment.Advantages …

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Study Notes for differentiated and concentrated marketing

Marketing Strategy / By

What is undifferentiated marketing?Undifferentiated marketing occurs when a marketing mix is designed for the general needs of an overall market, without regard for the needs of the different segments in that market.What is concentrated marketing?Concentrated marketing is focusing the firm’s market entire offering solely on the needs of one defined target market.What is differentiated marketing?Differentiated …

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Study Notes for target market selection

Segmentation, Targeting and Positioning, Target market / By

Outline of the target market selection evaluation criteriaTarget markets should be evaluated on:Financial IssuesSegment sizeSegment growth rateProfit marginsStructural AttractivenessCompetitors (direct and indirect)Competitive rivalryAccess to distribution channelsCurrent channel relationshipsStrategic DirectionFit with the firm’s strategic futureGrowth expectationsMarketing ExpertiseResources (financial position and staff resources)Capability (to develop products and compete)Importance of brand equity (ability to leverage, dilution concerns)Opportunity CostAre …

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Study Notes for Target Markets

Segmentation, Targeting and Positioning, Target market / By

Marketing Study NotesWhat is a target market?A target market is a market segment that has been deliberately selected by an organization in order to focus their marketing efforts and offerings.Why is target market selection important?Target market selection is the second major phase of the STP process.It is important because it is a key marketing strategy …

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Study Notes for market segmentation evaluation criteria

Segmentation, Segmentation, Targeting and Positioning / By

The market segmentation evaluation criteriaAfter constructing a set of market segments in the STP process, the market segments are then subject to evaluation against a set criteria.This is a checkpoint stage in the STP process. Its goal is to ensure that the segments meet basic requirements and guidelines for usable segments.Main Evaluation Criteria for Market …

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Study Notes for how market segmentation is undertaken

Segmentation, Segmentation, Targeting and Positioning / By

How to segment a market? (Technical aspects)There are two main approaches: cluster analysis (if data is available), otherwise segmentation trees.Cluster analysisCluster analysis is an analysis designed to categorize objects to a pre-defined number of different groups, with each group being relatively similar on a range of selected attributes. The resultant groups are referred to as …

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