DM 272 1st Edition Lecture 7Outline of Last Lecture I. Aging in Absolute ThresholdII. AttentionIII. InterpretationOutline of Current Lecture I. Perceptual PositioningII. What is a Blind Taste Test?III. Perception vs. PreferenceIV. Why Blind Taste Testing?Current LecturePerceptual Positioning- When consumers develop perceptions of brands in terms of both functional and symbolic attributes. - Positioning Strategyo The use of marketing mix (e.g. product design, pricing, advertising) to influence customers’ interpretation of meaning. What is a Blind Taste Test?- When consumers sample a product without knowing the brand which they consume- Selective Distortion: Tendency to interpret/distort information to be consistent with prior brand and product beliefso Can work to the advantage of marketers of strong brands A car may seem to drive smoother A beer may taste betterPerception vs. Preference- Perception is subjective- Taste is not necessarily the most important factor of consumer purchases- Brand information impacts consumer perception and thus preferenceThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Why Blind Taste Testing? - To asses the value of a brand- To diagnose problems and evaluate different components of the marketing mix- To identify product formulation- To produce healthier product alternatives- To taste for quality
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