marketing hw
Common Positioning Types
Product Attributes or Benefits
Price/Quality/Service
Value-for-money
Cultural symbols/Brand characters
Identity
Underdog
Authenticity
Cool
Users/Lifestyle
Use
Product class
Competition
Underdog
Social Mission
Incentives
Distribution
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Positioning Types
Product Attributes or Benefits
Price/Quality/Service
Value-for-money
Cultural symbols/Brand characters
Identity
Underdog
Authenticity
Cool
Users/Lifestyle
Use
Product class
Competition
Underdog
Social Mission
Incentives
Distribution
2
Understanding Your Target
What do they think about us and what do they need to think about us?
Let’s briefly review consumer decision-making and the hierarchy of effects from the video.
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The Consumer Decision-Making Process
Motivation
Information Search/
Knowledge of Alternatives
Problem Awareness/
Need Recognition
Perception
Information Search/
Knowledge of Alternatives
Attitude formation
Integration
Learning/attitude
Evaluation/
Preference
Decision/
Purchase
Post
10
4
What do they think about us and what do they need to think about us?
What they think about us and what they need to think about us is, in part, dependent upon where they are in terms of these stages of decision making.
Develop marketing communications with this in mind.
5
The Consumer Purchase Funnel
Knowledge
Problem Awareness
Liking /
Preference
Purchase
Decision
Post
10
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What is the Purchase Funnel?
The purchase funnel is a simple way to visualize the complex process of garnering leads and converting them into paying customers.
The purchase funnel is a consumer-focused marketing model that illustrates the theoretical customer journey toward the purchase of a good or service.
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The most appropriate tool will be influenced by what your target thinks about you and their decision- making stage
The objective for a campaign is based on your target’s decision-making stage, what they think about you and what they need to think about you.
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Identifying Solutions
What tool is best to achieve our sales objectives? (4 P’s)
Can communications help with the particular problem the firm wants to solve?
More advertising?
Different messaging?
Change or add media?
Incentives? (e.g., sales promotion)
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10
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Need to Assess Situation and ID Solutions
Identify a which think we can influence
Determine which tools of the 4 P’s are most useful for the current situation
Which are most impactful for your target?
Consider what objective could communications achieve that would be useful?
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BCG Growth Share Matrix
? – Analyze
Dog – Divest
Star – Invest
Cash Cow – Milk…or Analyze
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Awareness
Knowledge
Liking
Purchase
Re-purchase
Case 1
30%
28%
25%
23%
20%
Case 2
80%
35%
25%
23%
20%
Case 3
80%
70%
45%
23%
20%
Case 5
80%
70%
45%
38%
30%
Case 4
80%
65%
45%
35%
8%
Decision-Making Stages Approach
Percentages of target
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Awareness
Knowledge
Liking
Purchase
Re-purchase
Case 1
30%
28%
25%
23%
20%
Case 2
80%
35%
25%
23%
20%
Case 3
80%
70%
45%
23%
20%
Case 5
80%
70%
45%
38%
30%
Case 4
80%
65%
45%
35%
8%
ADVERTISING
MEDIA
ADVERTISING
MESSAGE
DISTRIBUTION/
PRICE
NICHE/TARGET
PRODUCT/
TARGET/
PROMOTION
Decision-Making Stages Approach
15
World of Warcraft Individual Assignment
WOW has asked you to:
identify the best target and explain your rationale
discuss what that target does and does not know about WOW
identify what the target needs to know (where is the target in terms of the consumer decision making process and what will move the target toward WOW?)
identify the best positioning for WOW to take
develop a positioning statement including POP and POD
Due: Sunday, January 30, 2022 by 8 pm