MKTG3501 Lecture Notes - Lecture 7: Umbrella Brand, Brand Equity, Product Differentiation
Document Summary
A successful differentiation strategy should: generate customer value, provide perceived value, be difficult to copy. Differentiation & product positioning: product differentiation, service differentiation, brand differentiation, low cost of purchase. Branding & brand- management strategies: brand identity, brand encoding, brand assets & liabilities, brand equity. Brand & product line strategies: umbrella & flanker brands, porduct line extensions, bundling & unbundling, product elimination. Name a different company that has built its positioning strategy around one of the five areas of positioning shown above. 8 dimensions of product performance that can be used as a source of differentiation. Explain how each play a role in nike"s product position and market share. Brand repositioning is when a company changes a brand"s status in the marketplace. This typically includes changes to the marketing mix, such as product, place, price and promotion. Repositioning is done to keep up with consumer wants and needs.
