Brand Reputation Week 6-7 - ideal point model

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School

Australian Pacific College *

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2207

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Marketing

Date

Feb 20, 2024

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pdf

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7

Uploaded by CoachFrogMaster593

1 IDEAL POINT MODEL & POP/POD Brand: Functional level 226 Customer-Based Brand Equity Pyramid 227 228 Brand/Product Positioning Using Perceptual & Preference Maps Mapping: Techniques (using customer- data) that enable managers to develop differentiation and positioning strategies by enabling them to visualize the competitive structure of their markets as perceived by their customers. 228 Understanding which attributes really matter…! Ideal point 229
2 Ideal point model 1. Compares your brand versus an ideal held by consumers. 2. Measures the perceptions of the brand’s location along an attribute continuum 3. Multiplied by an importance level for each attribute The product must be rated close to the ideal point. For example, two brands of facial tissue might have a satisfactory price, fragrance, and texture, but the brand selected may have a fragrance similar to the buyer's favorite perfume. 230 Ideal point model If the importance of an attribute is high: And our performance is poor If the competitor is also poor, we have neglected an opportunity If the competitor is good, we are at a competitive disadvantage And our performance is good If our competitor is poor, we have competitive advantage If our competitor is good, we have competition 231 Ideal point model If the importance of an attribute is low: And our performance is poor If the competitor is also poor, we have a null opportunity If the competitor is good, we have a false alarm – it doesn’t matter And our performance is good If our competitor is poor, we have a false advantage – it’s not worth it If our competitor is good, we have false competition 232 Ideal point Model Samsung_S5_Commercial_2014_Dont_be_Wall_Hugger.flv Nokia_mocks_iPhone_5_in_a_new_ad_for_a_Umia_820.flv.fl v 233
3 Understanding which attributes really matter…! http://tejas.iimb.ac.in/articles/95.php 234 Repositioning of KFC (WARC) The issue: A Narrowing business base. In order to address this a KFC management project team was appointed. Their task was to develop an overall marketing plan that would achieve a quantum leap in sales by the end of the financial year. 235 Target insight Only 4 out of 10 adults had used any fast food outlet in the past three months. Two thirds of the business was in the hands of heavy users, ie those who visit a quick service restaurant once every three days. These heavy users tended to be male, single, young and downscale in terms of social class, income and education. Most consumption would take place after 10pm. At last these consumers have very little brand loyalty. 236 Britain after dark… 237
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