Branding

Brand Audit Project Brand Positioning Statement Due: Please submit printed copy in-class on Nov 7th, 2012 Your group will be turning in a Positioning Statement for the brand you are auditing. When considering the optimal positioning for your brand, please discuss and answer the following questions within your group. Please answer the questions in detail (2-3pages) and submit a half page Positioning Statement. 1. What is the product category? This is usually a set of products or services designed to meet a particular need (or closely related set of needs). Remember that your identification of a product category should be strategic, as the category you choose will help communicate the needs your brand addresses. 2. What are the available alternatives in the product category? The category should be defined so that these are reasonably close substitutes. 3. What are the important/relevant attributes that describe and differentiate the available alternatives in the product category? These include physical features and characteristics, product associations, user benefits etc. 4. Who are the existing and potential customers for this product category? 5. How is the market segmented? Start by defining each segment according to needs and/or benefits sought. Which attributes are most important to each segment? It should then be possible to profile these segments using criteria such as demographics, geography, lifestyle etc. 6. What is(are) the appropriate target segment(s) for the new product? These need to be evaluated in light of the objectives of the company. 7. Which of the available alternatives in the product category are most appealing to the target segment(s)? 8. What are the different strategies one might use to position the new product against the existing alternatives for the target segment(s)? Look for opportunities to establish points of parity (to indicate membership in a particular group of products) and points of difference (to set you apart from that...