Summary Marketing Strategy (BM04MM) (2020) - Lectures and case studies
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Course
Marketing Strategy (BM04MM)
Institution
Erasmus Universiteit Rotterdam (EUR)
Basically whatever you need for the exam (even more). I included Stefano's exact words and quote in the lectures, my own explanation for the tough slides and tricky theories. Long sentences are for explanations to help you better understand. Recommended to use it along with Stefano's slides.
Session 3. Positioning
1. What is positioning
What are the building blocks of marketing strategy: marketing does not have foundation
Marketing follows a systematic approach that goes from description (market sensing) to prescription
(strategy formulation to make strategic action)
- Positioning comes after segmentation and targeting. After knowing who you are
targeting. Sometimes after positioning, you go back to segmentation and target. But
normally is segmentation → targeting → positioning
- The attempt to influence the mental position of the product/brand/company in the
mind of target customers. AKA sometimes could be called Values, Unique Selling
point, value proposition.
- Marketing managers could rely on 4P, but always doubtful. but if you decide based
on positioning, less risks, easier to argue. Having clear P having easier decisions
Positioning case: Quidel: Pregnancy diagnostics product
2 segments of potential customers: they realised they cannot target both at the same time, so they
produce 2 products for both.
, - Brand name for Hopefuls: Conceive (focus on the outcome). QuickVue for Fearfuls (Focus on
the quick)
- Brand positioning: Emphasizing reliability and quick
- SKU position: placing next to diapers or baby stuffs in the stores vs next to condoms
- Brand extensions: ovulation testing vs self tests
- Price: Hopefuls could pay more
Summary: as a brand, you cannot be everything, you have to understand your customers. Lesson is to
really pay attention to your CUSTOMERS
Case 2: Dairylea Dunkers
- Customers are not the consumers. Parents buy the food for kids to consume..
- Focus group: third thing in the lunchbox.
Conceptualize between: Nutritional and Junk (parents care about this) and Boring and Fun (child).
→ Positioning statement: Fun and active way to provide daily nutrition for children for both mother
and children. Fun advertising for children, engage the child
Summary: it is not just about what customer needs, but also about Competitors positioned to serve
them (chips, sweets). You have to define your COMPETITORS.
Case 3: Celebrations
Customers are looking for small snacks, instead of big regular packs. Celebrations know that the trend
is not updated → they leverage all famous brands in bag and give customers a treat.
- Started the idea in 1995, but only launched in 1997 as Celebrations. Actually took them 2
years to create the mini bar from the big ones.
- They wanted to make sure it’s right for customers to buy from Celebrations, the bars stay the
same
, Summary: you have to deliver what you promise. Marketing as “promise” → Company: building
brands from the inside out. this is important for positioning strategy.
The 3C framework: Customers, Competition and Company.
Why of Positioning?
Small details matter: products speak for itself, but the brand matters a lot when you want to
shape/frame and differentiate what people think of your products and brand appeal. You need to have
a compelling story for customers to buy your products.
If companies forget about customers: only know about what they could do and others could do:
- Companies do not know if there is a need for their products, and don’t know what their
products contribute to the customer’s needs. There might be a lack of demand or need. If you
have what you deliver but there is no demand → for nothing.
If companies ignore competition:
- No one tells you what is your performance. If your product is good, but there is an
alternative or second option, you might provide a product without differentiation or a
copy cat.
- the danger of not paying attention to competition: fails to innovate and see new
competitors. Your positioning strategy will be undermined based on external
environment.
If companies ignore company: Fails to deliver brand promise.
→ Apply 3 C as your tools to come up with positioning.
Tool 1: Using 3C models
Step 1: Separate analysis of each element
Step 2: Find the idea that speaks to all three.
Expressing the position:
- The brand mantra/strapline.
- values: You could be too ambitious and not really clear
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