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Marketing Exam Study!

          • Hiring and training better people than their competitors do

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          Image differentiation

          • Companies image they portray should show distinctive benefits and positioning

          • Developing strong distinctive image calls for creativity and hard work

  • Choosing the right competitive advantages

    • How many differences to promote?

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        Many marketers think that companies should aggressively promote only one benefit to the target market

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          Company should develop a unique selling proposition (SP) for each brand and stick to it

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          Companies should promote one proposition in crowded marketing society

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          A company should avoid 3 major positioning errors

          • Under positioning- failing to ever really position the company at all

          • Over positioning- giving buyers a too narrow picture of the company

          • Confused positioning- leaving buyers a confusing image of a company

    • Which Differences to Promote?

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          Important: the difference delivers a highly valued benefit to target buyers

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          Distinctive: competitors do not offer the difference, or the company can offer it in a more distinctive way

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          Superior: the difference is superior to other ways that customers might obtain the same benefit

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          Communicibable: the difference is communicable and visible to buyers

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          Pre-emptive: competitors cannot easily copy the difference

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          Affordable: buyers can afford to pay the difference

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          Profitable: the company can introduce the difference profitably

  • Selecting an Overall Positioning Strategy

    • Buyers typically choose the product that gives them the greatest value

    • Value proposition is the full positioning of the brand – the full mix of benefits on which it is positioned

    • Fig 7.4

    • Price Vs. Benefits

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        More for more

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          More for the same

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          More for less

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          The same for less

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          Less for much less

  • Developing a Positioning Statement

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