Market Differentiation

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

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