POSITIONING.

The concept is about positioning the product (or service) in the consumer's mind. This approach is needed because consumers are bombarded with continuous advertising. The consumer's mind reacts to this high volume of advertising by accepting just what is consistent with prior knowledge or experience.

 

Consumers cope with information overload by oversimplifying and will likely shut out anything inconsistent with their knowledge and experience. The advertiser should present a simplified message and make that message consistent with what the consumer already believes by focusing on the consumer's perceptions rather than on the reality of the product.

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The management concept of building a university around customer needs and profitable satisfaction has helped universities achieve success in high-growth, moderately competitive markets. However, a well-developed marketing strategy is required to succeed in markets where economic growth has leveled and many competitors follow the marketing concept. Such a strategy considers a portfolio of products and the anticipated moves of competitors in the market.

 

There are some strategy concepts: Price/Selling Effort Strategies, Strengths and Abilities, Strategy based on Competitors, and Market Share.

 

The two most common research uses are diagnostic analysis to understand the market and the organization's current performance and opportunity analysis to define any unexploited growth opportunities. This research study includes consumer studies, distribution studies, semantic scaling, multidimensional scaling, intelligence studies, projections, and conjoint analysis.

 

Dynamic Product Management Strategies

 

Two fundamental product management issues are whether to pioneer or follow and how to manage the product (or service) over its life cycle. The pioneering advantage is obtained from both the supply and the demand sides.

 

To increase profits from existing brands, a University can improve its production efficiency and increase the demand through more users and efficiency. A University can defend its existing base through line extensions, flanker brands, and brand extensions.

What is a brand?

 

Most universities brand their services using a name, a symbol, or a design to identify them and differentiate them from the competitive set. Consumers can easily recognize the brand and brand values.

 

A brand name is a name given to a range of services. It may be the same name as the University, or it may be a different name. The trademark is the legal protection for the brand, logo, and brand name.

 

Branding

 

A brand manager is responsible for branding, creating, maintaining, and building a brand. They work on all aspects of the brand:

 

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• The brand image: how the consumers see the brand and the values they associate with it.

• The brand essence: one core concept that defines the brand. It is usually expressed in a short phrase or just one word.

• The brand promise: the explicit promise the university makes to its target audiences, including employees, about the quality and use of the brand.

• The brand vision: the brand vision communicates where the brand is and where the brand can go. It talks about the brand's values today, the values it will need in the future, and the communication tools required to achieve this.

 

Brand management

 

The brand strategy shows how the brand will meet its objectives. It influences a University's overall business strategy to ensure consistent brand behavior, meaning what the brand does and how it acts in all advertising media, and consistent brand experience, the exposure, and interaction a consumer has with the brand. Total branding refers to a consistent approach to brand behavior and brand experiences across all possible touchpoints, wherever the consumer has a brand experience: TV, out-of-home, at a friend's house, etc.

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Common brand values are the code by which the brand lives and operates. They express how the brand wants to be seen by its consumers. Every brand has its values, but some common brand values can be divided into subsets.

 

A brand may be respected because it shows it is knowledgeable about or has an excellent understanding of its area of expertise or its consumers. Customer satisfaction is critical for brands that offer values like good quality. A University can use experiences and qualities as brand values. Brands often mirror their consumers' values with their own.