Branding and advertising Test Guide with Complete Solutions

Product differentiation - Answer-how a company ensures that its products are seen as different from their competitors' products. Ex: Co-branding. Co-branding - Answer-When two or more companies or products agree to support one another's brands in certain business ventures. Ex: Starbucks and Chapters Position - Answer-To create an image of a product in the consumer's mind. Benefit positioning - Answer-Positioning your product as having more benefits then the competition. Ex: apple positions themselves with their innovations in technology like the macbook air. Target positioning - Answer-Positioning your brand in a specific target market so that your product is known by your target market. Ex: DC shoes positions themselves in the skateboard market because they makes skateboarding shoes. Price positioning - Answer-Trying to position your self as the most expensive item in category or the cheapest in category. Ex: Walmart positions themselves as the cheapest product with their roll backs. Distribution positioning - Answer-Having a unique sales technique and being known for your method of distribution. EX: Avon products use a catalogue to takes orders from friends, co-workers and neighbours. Service positioning - Answer-Positioning your self as offering a service that no other company provides. Ex: a 24 hour convenience store. Positioning premise - Answer-Marketers have to be prepared to alienate or cut out some consumers. This means some consumers will not want their product and some brands may not want certain types of consumers. Ex: Vans created their website to appeal to the skatebording lifestyle. Long-term positioning - Answer-Marketers will try and create a sustainable position. Companies will try and avoid basing their position on technological innovations. Ex: sony based their position on their beta technology protection that led to failure. Relevant positioning - Answer-The position must be relevant to the consumers. Ex: MEC as a non for profit organization.