Print A brand positioning statement focuses on the consumer target your brand will serve and the emotional and functional benefits your brand will stand for.
When targeting a market segment we examine three factors: Once we've defined the target market, and chosen one of four appropriate marketing methods, our eyes turn towards Market Differentiation and Product Positioning through a Value Proposition.
A Value Proposition is not a mystical marketing term, it is an essential marketing principle.
A Value Proposition consists of two parts: The differentiated value refers to ways our products and services stand out from the competition inside a market segment.
A position is the "place" the product occupies inside the consumer's mind relative to competing products in the market segment. Let's address "position" first. Depending on the product or service, the Buying Decision Process can be tough.
To simplify it, consumers will organize products and services into categories and "position" them inside their minds relative to others.
This Targeting positioning strategy for apple is built from the consumer's underlying sets of perceptions, impressions, and feelings about a product. We all naturally do this, without any help from advertising. It's human nature - we are chronic "judgers".
The painful reality for a marketer is that we cannot leave this natural act of positioning to chance - we MUST influence it.
A marketer must first define the positions we want our products and services to occupy, and then create the messaging that will influence consumers and give us a competitive advantage.
A great way to plan and visualize positioning is by using Position Maps. Position Maps Position Maps are great tools we can use to understand how consumers perceive us versus other competing products.
A position map uses two axis. Each axis represents a qualitative or quantitative attribute. Usually using data acquired through primary or secondary sources, we can graph visually where each product is positioned according to the relationships between the two axis. What you see in the map above is a visual plot of the positioning of common brands of candy.
If we were developing a new brand, or trying to reposition an existing one, we can use this map to help guide our differentiation and messaging strategies going forward. Choosing Differentiation Strategies The reality is that two or more firms will go after the same position in a targeted segment.
A Differentiation Strategy helps us effectively focus and communicate our intended position to the selected target market, and gives us a source of competitive advantage. Differentiation strategies help us describe the differences between our products and services versus our competition.
The result of successful differentiation is that categorization by the consumer becomes harder, which reduces comparisons of our products and services with our competition. Choosing a differentiation strategy generally consists of three steps: Identifying A Set Of Value Differences If we are able to position our products and services in a manner that sets them apart from our competition, then we have gained a competitive advantage and our position in the comsumer's mind will be higher than the alternatives available.
In order to gain this competitive advantage we can differentiate through products, services, channels, people, or image brand. Products Our ability to differentiate ourselves solely on the actual product is dependent on the "sliding scale" of product features.
At one end are products that have few real "features" to sell - such as beef, pencils or cartons of milk. The other end is occupied by highly differentiated products, with abundant real "features", such as cars, computers and homes.
Services Services are defined as "what accompanies the product". Let's use an automobile as an example. When you buy a Ford, consumers can expect a fairly mainstream level of dealer service.
Lexus differentiates itself with a higher level of service: Channels Differentiation through channels involves every touch point along the way to finally getting the product into the consumer's hands.
Companies enjoy competitive advantages via channel differentiation due to the way they design their channel's coverage, expertise, and execution. Companies such as Dell, Apple, and Amazon have created some of the most well executed direct to consumer channels in their industries.
People Companies can use their own "people resources" as points of differentiation. Grocery stores, retail outlets, call centers, theme parks, and even hospitals all use people as points of differentiation.
Where there is a customer touch point, you can differentiate via people. Brand Image In some ways, using brand as a point of differentiation seems the simplest to understand.Porter's generic strategies describe how a company pursues competitive advantage across its chosen market scope.
There are three/four generic strategies, either lower cost, differentiated, or focus.A company chooses to pursue one of two types of competitive advantage, either via lower costs than its competition or by differentiating itself along dimensions valued by customers to command a.
7 Major Digital Marketing Trends For The emerging trends you need to integrate into your plan We are through Q1, and top companies have the habit of starting to plan for the next year. While the saying goes that “No news is good news,” in the case of Apple it turns out that “News about no news is bad news.” From Bloomberg.
Apple Inc. shares had their worst day since amid concerns that growth in its powerhouse product, the iPhone, is slowing. Positioning involves implementing our targeting. For example, Apple Computer has chosen to position itself as a maker of user-friendly computers.
For example, Apple Computer has chosen to position itself as a maker of user-friendly computers. AN ANALYSIS OF SEGMENTATION, TARGETTING AND POSITIONING STRATEGY OF IPOD APPLE TARGETING AND POSITIONING MARKET SEGMENTATION INTRODUCTION: The market for any product is normally made up of several segments.
A ‘market’ after all is the aggregate of consumers of a given product. And, consumer . Marketing Segmentation Targeting And Positioning Marketing Essay.
Print Reference this. Disclaimer: The price positioning strategy of the Apple iPhone 4 is premium strategy which means that the iPhone 4 is of very high quality and to get that quality the consumers have to pay a higher price.