Branding Market Mapping Recap the Boston Matrix Market

Branding & Market Mapping

Recap the Boston Matrix… Market Growth High Low Problem Children Stars Dogs Cash Cows Market Share High

The Boston Matrix, the Product Life Cycle and Cash Flow The Product Life Cycle Cash Flow Forecast Stars Cash Cow Problem Children Dogs

Lesson Objectives. . . n Recap on what is meant by the term ‘branding’ n See how businesses can differentiate their products from their competitors n Recap on what market maps are and how brands can be placed on a market map

Brands… Brands A named product which consumers see as being different from other products and which they can associate and identify with. Own Brands A product which is sold under the brand name of a supermarket rather than under the brand name. Generic A product made by a number of different businesses in which customer see as very little difference between the products.

How are brands different?

The advantages of branding… n Premium Pricing n Greater Consumer n Increased Sales and Market Share

Market Mapping… Market mapping is also known as ‘perceptual mapping’ or ‘positioning mapping’. It is a map that shows the range of possible positions for two features of a product.

High Price Basic Quality High Quality Low Price

Market Gaps. . . A gap in the market occurs when there is no business currently serving the needs of the customers for a particular product. It can be identified through the use of market mapping. New businesses can be very successful if they spot and fill the gap in the market.