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Positioning

This document discusses positioning strategies for companies. It defines positioning as designing a company's offering and image to occupy a distinctive place in the minds of target markets. It recommends companies first analyze competitors to understand their market share, brand associations, and customer preferences. It also suggests identifying potential points of difference and parity between a company's brand and competitors. Finally, it advises choosing specific points of difference and parity and focusing on benefits to create a competitive advantage and distinct brand position.

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26 views1 page

Positioning

This document discusses positioning strategies for companies. It defines positioning as designing a company's offering and image to occupy a distinctive place in the minds of target markets. It recommends companies first analyze competitors to understand their market share, brand associations, and customer preferences. It also suggests identifying potential points of difference and parity between a company's brand and competitors. Finally, it advises choosing specific points of difference and parity and focusing on benefits to create a competitive advantage and distinct brand position.

Uploaded by

aditi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Positioning --> Act of designing a company's offering and image to occupy a distinctive place in the

minds of target markets

 Maximize benefit to potential customers


 Guide marketing strategy
 Clarify brand essence, identify goals it achieves for customers, uniqueness

How to decide on a position:


1. Competitive frame of reference: What are the competing brands/substitutes? What is
category membership?
Scope should be broad --> Identify emerging threats/new entrants

Industry: Group of firms offering a product/class of products that are close substitutes

Marketing Myopia: Brand's inability to prepare for competition due to focus on 'traditional'
competitors rather than looking at the industry

Analyze the following when looking at competitors:


1. Market Share
2. Share of mind: %age of customers who associate the competitor's brand with the industry
3. Share of heart: %age of customers who prefer the competitor's brand within the industry

2. Identify Potential points-of-difference/points-of-parity:


Points of difference: Attributes/benefits that consumers strongly associate with a brand/+vely
evaluate, believe that another brand could not provide. Criteria whether a feature is a POD:
a. Desirable to consumer: Personal relevance
b. Deliverable: Is it feasible for the company?
c. Differentiating: Distinctive and superior to competitors

Points-of-Parity: Attributes/benefits that need not be unique to the brand. Types include:
a. Category POP: Viewed as essential to legitimate/credible offering within a category -->
subject to change
b. Correlational POP: Potentially -ve associations due to pre-existing +ve associations
c. Competitive POP: Associations to overcome perceived weaknesses of the brand against
competitors

Diversify enough to reach a substantial market but not too diverse that the positioning
becomes ineffective

3. Choose specific POPs and PODs:


Competitive advantage: Company’s ability to perform in one or more ways that competitors
cannot or will not match.

Focus on benefits and let attributes support it

Perceptual Maps: Visual representations of consumer perceptions and preferences --> Overlay
consumer preferences with brand perceptions to identify opportunities

This study source was downloaded by 100000808835619 from CourseHero.com on 08-26-2022 23:48:39 GMT -05:00

https://www.coursehero.com/file/131309981/Positioningdocx/
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