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- Define and explain what a company should do when the way they position their product no longer works.
- Short Answer: What are four important things to include in a positioning statement?
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Short Answer: This chapter discusses five important notes to keep in mind when creating a position statement. State and explain three of those.
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- Positioning is one of the most important, but frequently misunderstood concepts in marketing. Describe the concepts positioning and repositioning in detail. Select one firm that needs to reposition itself and describe its current positioning in detail. What isn’t working about its current position? Provide three detailed and specific recommendations for how it could reposition itself for a more successful future.Develop a strategic marketing plan for your coffee shop business. The plan must contain the following elements: ii) Defines the branding elements of the business. (1) Explain what the selected logo represents for the business. (2) Mention the distinctive elements of the business that allow the value proposition to be transmitted. (3) Discuss what represents a competitive advantage in the context of the business brand.F. Marketing strategy i) Identify the product positioning strategy vs. the competition (e.g. cost leadership, differentiation, focus, etc.). Explain what it is and how you would implement it. ii) Describe the advertising strategies to be used to market the business. Consider both traditional marketing elements and digital strategies. iii) Explain the promotion strategy to: (1) Attract new customers (2) Customer retentionwhat is the summary (bullet type) of this topic?
- Diamond V Mills makes yeast they generally sell B2B to breweries, bakeries and wholesalers. They want to enter the B2C market. They have designed and engineered the product and packaging, assigned price and created a compelling social media and advertising campaign. They currently are not sure how to get it to the B2C market. What "P" of marketing are they missing? O place O perceived value O promotion O price O productThe marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. Questions 1. Provide a discussion on the 4P’s of the marketing mix for a product of your choice. 2. Determine the market segmentation for the product discussed in question 1 above.Market segmentation and product positioning in consumer markets are extremely important concepts for marketers to address. One of the big questions to address is what attributes should end up in the final positioning model(s). Furthermore, there are questions of whether the attributes should be of utilitarian or more hedonistic/psychographic in nature. Clearly there is also a place for creativity in these regards. Discuss how marketing management should go about making these critical product/brand positioning decisions. After some discussion, present an example of a creative perceptual map that Burger King could use to position and differentiate its brand from others like McDonald’s, Kentucky Fried chicken, and other fast food restaurants.
- Rita has set up a company to manufacture and market GPS tracking systems for cross country runners who like to go on trails in uninhabited areas. A GPS could help if someone gets lost while running on these types of trails. Rita is trying to figure out which approach she will use to bring awareness to her product. She is also trying to understand who her customer would be. She has decided a sales orientation would be best suited for her new product. Questions What are important considerations for and against using a sales orientation approach? In your answer discuss what a sales orientation is and why it might or might not work for Rita. Which orientation do you think would best be suited for this type of product and why? (Explain how this chosen orientation would be beneficial for this business.)1. Select a product category and after drafting positioning maps that represent the competing products in that particular category (based on your own perceptions), find possible market opportunities or gaps in the positioning maps that have yet to be filled. (Please refer to the picture) 2. Why do we say that perceptions count more than reality, at least in the world of marketing?Women of different ages and segments take their Shampoos very seriously and will very carefully select the ones suitable for their hair type. They may buy multiple hair products for different usage and stages and will spend a lot of time in purchasing such products. On the other hand men are least interested in shampoos and hair products. For them a single product works well and will spend least time purchasing such products." In view of above statement answer the following: a. How do you promote a product which may be high involvement to one segment but low for another? b. Can a low involvement product be converted into a high involvement one?
- As part of the process required before launch, one needs to consider the segmentation, targeting and positioning of the potential market. Seven positioning methods can be distinguished. Select and discuss two positioning methods you believe would be best suited to the market you have selected for targeting.The marketing team of a regional airline company plans to launch a new marketing campaign to draw more customers to its flights. Select the first three planning steps the marketing team should take to begin the campaign: O determine the target market, define purpose and objectives for IMC campaign, set S.M.A.R.T. goals select marketing methods and tools, determine the promotion mix, execute the campaign set S.M.A.R.T. goals, define the message, select marketing communications methods and toolsTHE THREE WAYS TO IDENTIFY AN OPPORTUNITY INCLUDE: a.Observing trends, conducting brainstorming sessions, and studying industry trade journals. b.Observing trends, solving a problem, and finding gaps in the marketplace. c.Studying industry trade journals, talking to consumers, and solving a problem. d.Reading books, solving a problem, and findings gaps in the marketplace