TASK 7 CREATE A PRODUCT POSITIONING (3 products) > Consumer Needs > Competitive Framework > Benefit > Reason Why > Brand Character > Value-Based Payoff NEEDS CAN BE EXEMPLIFIED IN TWO WAYS: o Utilitarian Needs - Physical or functional needs that emphasize objective, tangible attributes of products o Hedonic needs - Psychographic or emotional needs characterized by subjective, experiential benefits of products THE COMPETITIVE FRAMEWORK PROVIDES A GROUPING OF LIKE PRODUCTS WITH WHICH OUR PRODUCT COMPETES o Direct & indirect competitors BENEFIT ELEMENT o Encapsulates the most meaningful product difference between our brand and the competitors o Benefit must be consistent with the product's physical attributes REASON WHY ELEMENT o Element that adds credibility to the main benefit by emphasizing supporting rationale intrinsic to the brand o Makes a connection between those attributes that support the benefit(s) promise BRAND CHARACTER ELEMENT o Element that addresses who your brand is. o The personage or personality of your specific brand o Complexion o Temperament o Spirit/Soul THE VALUE-BASED PAYOFF o The element that captures the value associated with the benefit promise EXAMPLE OF FORMULATION To business people who need a quick, fast lunch, Campbell's soup is the fast-food alternative that gives you a quick, tasty meal in the middle of the work day. The reason is because it 1) is ready to eat, 2) takes minimal preparation, and 3) is microwavable. The brand character is reliable, helpful. The value-based payoff is accomplishment