Market Differentiation

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Market Differentiation

  1. 1. Marketing Differentiation How to get the message right
  2. 2. <ul><li>What is it? </li></ul><ul><ul><li>The process of distinguishing the differences of a product or offering from others in order to make a product more attractive to a particular target market </li></ul></ul><ul><li>Unique Selling Position </li></ul><ul><ul><li>The unique qualities or characteristics a product offers, verses similar substitutes </li></ul></ul>Message differentiation
  3. 3. How it works <ul><li>Delivered by a message </li></ul><ul><ul><li>The message holds the crucial role of promoting the brand </li></ul></ul><ul><ul><li>Use messages to create a position for the brand or product </li></ul></ul><ul><ul><li>Create a successful position when marketers are able to place a psychological anchor in the minds of prospects, which causes them to choose their specific company or product over another </li></ul></ul>
  4. 4. What does a brand represent? <ul><li>Answer </li></ul><ul><ul><li>Go to the consumers to find out </li></ul></ul><ul><ul><li>Find out what they like about your product, what true experience is being offered </li></ul></ul><ul><li>Common mistakes </li></ul><ul><ul><li>Companies often promise consumers something completely different then what is being offered </li></ul></ul><ul><ul><li>Companies base their brand image on what they think their consumer wants </li></ul></ul><ul><ul><li>Put too large of an emphasis on secondary research </li></ul></ul>
  5. 5. <ul><li>Formulate the brand promise </li></ul><ul><li>Unique value proposition </li></ul><ul><li>Features and benefits </li></ul><ul><li>Key Messages </li></ul>Parts of the message
  6. 6. Formulate brand promise <ul><li>Brand promise </li></ul><ul><ul><li>Based on the market research (talking to customers) </li></ul></ul><ul><ul><li>It should not focus on what a company wants to deliver, but what is DOES deliver </li></ul></ul><ul><ul><li>It should encompass what a company does better then anyone else </li></ul></ul>
  7. 7. Unique value proposition <ul><li>What is it </li></ul><ul><ul><li>This addresses how a particular product is best fit for the target consumer </li></ul></ul><ul><ul><li>What unique characteristics are offered that make the product ideal </li></ul></ul><ul><ul><li>This promotes the brand promise to the correct segment of the marketplace </li></ul></ul>
  8. 8. Features and benefits <ul><li>This is crucial </li></ul><ul><ul><li>The solution to ensuring a product’s message is part of a consumer’s choice is highlighting the differences of a product that exist but may not be obvious </li></ul></ul><ul><ul><li>Features need to be seamlessly aligned with the brand’s unique value proposition </li></ul></ul>
  9. 9. Key messages <ul><li>What are they </li></ul><ul><ul><li>They are standard, short explanations of what exactly a brand stands for and offers </li></ul></ul><ul><ul><li>They are often referred to as boiler plates and included at the end of e-mails or literature that a company syndicates </li></ul></ul><ul><ul><li>They basically provide the consumer with the big picture of what the brand offers and what the company stands for </li></ul></ul>
  10. 10. Call to action <ul><li>Full report – </li></ul><ul><li>http://crunk.starrtincup.com/marketdifferentiation/ </li></ul><ul><li>William Tincup </li></ul><ul><li>W: www.starrtincup.com </li></ul><ul><li>E: tincup@starrtincup.com </li></ul><ul><li>P: 817-204-0400 </li></ul>

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