Brand positioning is an important process in the overall marketing strategy that influences advertising and public relations. By understanding how to position the brand based on customer preferences, targeted messages (such as advertising and other forms of communication) appeal to the segmented customer groups.
Once the brand is positioned in the marketplace, the next step is to target customers with specific marketing messages, personalized, and appealing to current loyal customers and new, prospective customers. This is why demographic and psychographic variables are important when segmenting customer groups and developing marketing and public relations messages.
How do you do this? It starts with customer and competitor research.
To prepare for this assignment, do the following:
• View the What is SWOT Analysis? | A SWOT Analysis of Amazon
• Check out the sample SWOT analysis
Add the following 3 main ideas in your 3-5 page assignment:
• Create a SWOT analysis of your favorite brand. Use the SWOT template to help you with your SWOT analysis. Include the name of the brand, a bit about its history (which you can find on its Web site), what it sells, and any other identifying information. Then, list 2–3 competitors of the brand. Were you surprised by its competitors? Explain. Use this SWOT template from Microsoft. Remember to watch the Starbucks SWOT analysis video.
• Find the following about the brand:
o 2 strengths
o 2 weaknesses
o 2 opportunities
o 2 threats
• Find at least 1 public relations piece from the Web site or other sources such as a social media site, a blog, or a video. Briefly explain your perception of the brand.