Study information for the next exam and example inquiries
You should be knowledgeable about the two positioning models mentioned in class (X-YZ, I-D-U) and also write a placement statement for a brand (using the template provided in class).
Example qmc (question multiple choice ) question:
1 . In the I-D-U model of advantage emphasis the I identifies:
b. suitable level.
installment payments on your 7-Up's long-standing campaign to position itself since the Un-cola is a good example of positioning by
a. consumption situation.
n. product category or product category.
c. sensory characteristics.
e. the above.
Case discussion: Saxonville Sausage Business (SSC)
You have to be able to talk about the five questions about the Huge batch Man Making Company case:
1) What's the condition facing Saxonville Sausage Business? Why is Saxonville Sausage Firm considering starting a national Italian chicken brand? 2) How can industry for Italian language sausage become segmented? Use both product-specific and basic, and observable and valuable segmentation angles to distinguish and characterize feasible market sections. What further data do you need to generate a target market decision? 3) Discuss the X-YZ and I-D-U models of positioning inside the context of this case. 4) Draw a Hierarchical Value Map (HVM) for the Italian sausage market and discuss how a four setting concepts described in Demonstrate 8 connect with the means-end chains within the HVM. 5) Which brand should Saxonville Sausage Organization use for its Italian sausage? 6) Which usually positioning idea would you choose, and how come? Write a setting statement intended for the chosen positioning alternative. В
Customer response to product and selling price programs
Generally speaking, you should know just how perceived quality, price, and value are related to one another.
With regard to perceived quality, you have to know what recognized quality means, how it differs from the other notions of quality, and just how consumers type quality judgments. Specifically, you need to be able to make clear the difference among intrinsic and extrinsic cues and between search, encounter, and credit properties. Additionally , you have to know which usually cues influence quality perceptions. We mentioned the difference among national brands and private labels as a credit card applicatoin of the idea of extrinsic cues, in addition to to understand the implications of this work (esp. the try things out by Richardson et approach. ). An additional application of the concept of extrinsic cues was country-of-origin (COO) data, and you have to be aware of how COO cues influence consumer behavior. Furthermore, you will need to understand how buyer ethnocentrism affects the affect of COO information on client behavior.
To find price, you have to understand the distinct roles played by value, esp. how price pertains to quality (both objective and perceived). We discussed four topics tightly related to the psychology of prices. First, you need to be able to talk about what we know about consumers' value awareness and price awareness. Second, you should know about the worthiness function expectation theory and the implications of prospect theory for costs (discounts or premiums, endowment effect, etc . ). For instance , I could request you if the company ought to bundle or perhaps unbundle a number of different gains also to justify the answer applying prospect theory. Third, you have to know about the value of research prices in price perception. Finally, you have to know the fabric about mounting price differences.
With regard to benefit, you have to be knowledgeable about the different connotations of value and exactly how value relates to purchase habit.
In-class practice questions:
Normally, taste within a food product is definitely a(n) ______ cue or perhaps property. Nevertheless , when a retail store gives away totally free samples, flavor becomes a(n) ______ cue or house....