Role Of Imf In Eurozone Crisis

1233 words - 5 pages

Date: 28.04.2014Name: Nino GiorgadzeTopic: Chapter 6 - International PositioningI. Chapter Summary 6.1 Elements and definition/ 6.2 Target Consumer IdentificationPositioning - long term strategic marketing tool, which influences consumers' perception of a brand in international markets.The goal of positioning to create a clear perception for the brand in consumers' mind, differentiate it from its competitors and create benefit/value to the consumers.The process of positioning should answer the following questions:Who are our consumers?What does the brand deliver to the target consumers?How does the consumer perceive the brand?How does our brand compete with others on the market?Who does the consumer consider as a competitor of our brand?Definition of Positioning includes 3 core elements:Brand Equity - brand as consumers perceive it. It is influenced by several elementsBrand Image (set of associations, e.g McDonald's)Perceived QualityBrand Heritage ( s.g. Bosch)Brand LoyaltyBrand AwarenessConsumerTarget Consumer - People have different preferences, taste and lifestyle. Thus different market segments require different solutions. In the process of targeting, decisions should be made with regard to which of the segments best matches the brand's image, as we want it to be perceived in the future.Consumer Benefit - Consumers buy products because they bring them certain value/benefit. There are several concepts of Brand Benefit. The earliest one _ Unique Selling Proposition was introduced in 1960 by Rosser Reeves. It focused on effective advertising and had three integral parts: 1. each advertisement must make a proposition to consumer 2. Proposition must be unique 3. Proposition must be strong to attract new consumers. Though, nowadays we can differentiate between 3 types of consumer benefit that a brand can offer:Functional Benefit - technical attribute, quality, durability etc. e.g. - VolvoEmotional Benefit - Self-confidence, independence, belonging to some social groupSelf-Expression Benefit - is closely connected with consumer's personality or aspirational personality (role models).Competitors - Unique positioning of the brand requires its differentiation from the competitors. It is vital to know as much about the competitors as possible - their market position, strategy, potential future action, how consumers perceive the competitor's brands. A helpful tool for assessing and comparing competitive brands is perceptual map. It helps to visualize competitive environment on the market. On perceptual map there can be - original/actual brand position, Potential/ideal position, and Consumer segment. The closer the brand is to the ideal product, the higher the consumer's purchase motivation to buy this brand will be.6.3 Positioning StrategiesPositioning strategy can be used in 3 different levels:Global Positioning Strategy - It means that brand is targeted toward a global segment and offers the same benefit to consumers all over the world. This strategy...

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