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Chapter 5 presentation notes

by: Hannah Hicks

Chapter 5 presentation notes MKT 465

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Hannah Hicks

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chapter 5
Marketing Management
Erik Bushey
Study Guide
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This 3 page Study Guide was uploaded by Hannah Hicks on Saturday September 17, 2016. The Study Guide belongs to MKT 465 at Marshall University taught by Erik Bushey in Fall 2016. Since its upload, it has received 4 views.

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Date Created: 09/17/16
Hannah Hicks MKT 465 Chapter 5 presentation notes Introduction - No matter how tangible, technical, or mundane a product is, the product is not the brand. - Products are branded by giving meaning. o Book example: Let’s assume we are selling hamburgers. We could make sure our hamburgers are not the same and better than the competition by adding secret sauce, adding value meal with fries & drink, delivery, or offer wifi in our restaurant. In the end, consumers might find what we do “meaningful” enough to purchase our hamburgers. o The meaning is left for the consumer to find. o We must go beyond selling the product itself. - We must transcend the idea of the product as a physical or objective entity. o We must create and convey the meaning of the product so that the consumer’s idea of the product is the idea that we want them to have.  Disney Example. Theme products. Everything means something.  Ask if anyone knows a brand that is meaningful to them/ o Go from world of things to the world of IDEAS. o **NEXT SLIDE** - Branding is the difficult (but actually very straight forward) process of making a product meaningful. - ***NEXT SLIDE*** Hannah Hicks MKT 465 Chapter 5 presentation notes How to Express a Brand in Words - The most common way of expressing the meaning of a brand is to write a brand positioning statement. - Short, one sentence description of the meaning of the brand - “To < Target Consumer > our brand is the < category > that < point out difference >.” o The goal is to articulate a concept that is the IDEA of the brand: its meaning. o Book Example: To younger or less affluent consumers, this cola brand is the traditional cola known for its refreshing taste; it is part of a stubbornly positive approach to life that is perfect for the pursuit of happy time – the times when only this cola will do. o This is the idea or concept that consumers will have based on experience. - **NEXT SLIDE** - It is our job as marketers to direct the experience for our target consumer, we need to anticipate in advance what that concept should be, then articulate the words – this becomes the brand positioning statement. o Back to Cola example. The customers think of specific brand of cola when they are seeking happiness. o Another example from the book that reflect experiences that will lead consumers to think about the product in a meaningful way.  “To families who drink cola with meals, this brand of cola tastes as good as the leading brands to everyone in the family but does not break the food budget.”  ***NEXT SLIDE*** o Changing the wording into a different direction can help do the best job possible in expressing exactly what the concept is.  “To families who drink cola with meals, this brand of cola is the family favorite because using it lets you afford to buy other treats for the family.” Hannah Hicks MKT 465 Chapter 5 presentation notes o Each statement taps into a somewhat different experience and is meaningful in a slightly different way. o Overall the statement must point to a real experience that consumers will find personally meaningful. o Weak statement from book:  “To consumers who sometimes drink cola, this brand of cola tastes good and is available in several convenient sizes.”  This uses too many generic words “tastes good” “convenient sizes” and fail to make clear what the meaningful experience for the consumer is.


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