1. Ms. Park

2. 1. Market Analysis 2. Market Selection 3. Marketing Mix

3.  1) Market Segmentation  2)  3) Product PositioSegment Targetingning

4.  Dividing prospective buyers into groups that have common needs and/or desires, and will respond similarly to a marketing action.  Relatively ___________collection of prospective buyers.

5.  Demographic: This is just a fancy word for ________.  Psychographic: These are segmentation characteristics that you cannot __________but are nevertheless important.

6. - Product positioning is what comes to mind when your target market thinks about your product compared to your competitor’s products.

7. - What comes to your mind when you hear Ferrari? - What comes to your mind when you hear Hyundai?

8.  A concise description of your target market and how you want that market to perceive your brand.  It is not marketing or promotional statement; positioning statement is an internal tool.  Every product and marketing decision you make regarding your brand has to align with your positioning statement.

9.  Simple  Memorable  Clear  Credible  Tailored to the target market.  Shows how your brand/product differentiates from your competitors.

10.  For [Target Market], the [Brand] is the [Point of Differentiation] among all [Frame of Reference] because [Reason to Believe].

11.  The point of differentiation (POD) describes how your brand or product benefits customers in ways that set you apart from your competitors.  The frame of reference (FOR) is the segment or category in which your competes.  The reason to believe is a statement providing compelling evidence and reasons why customers in your target market can have confidence in your differentiation claims.

12.  For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Unlike traditional book retailers, Amazon.com provides a combination of extraordinary convenience, low prices, and comprehensive selection.

13.  For today’s appearance-conscious business, the Underfoot Industries EverAwesome line is the carpet that stays new-looking longest among all commercial-grade carpets. Our patented technology produces durable, low- wear carpet whose lifetime cost is 40-80% lower than other brands. The brand name “EverAwesome” tells customers: “This carpet looks great, AND it will last a long time.”

14.  Get into groups of three or four.  Come up with a positioning statement for Red Corntos.  Come up with a slogan for Red Corntos. The slogan must align with positioning statement.