Description
Product Positioning
Marketing Management
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According to Ries & Trout in the book POSITIONING : Battle For Your Mind ¶One only remembers the first in the segment, so if you cannot defeat the leader then invent & create your own class·.
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Positioning is an act of fixing the locus of the product offer in the mind of target customer. A product cannot be everything to everyone but has to be something to someone.
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Some unique feature of the product Some special need of the market Some gap in the current market offering.
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Hero Honda found that the 100 cc motorcycle market is overcrowded, it found that there is a segment which can afford a classy bike with more features & more power, Launched Ambition 125 cc bike. Hero Honda was the first company in India to launch High Power bike KARIZMA (225 cc). Kellogs Positioned itself as breakfast cereal. 7 UP positioned itself as Uncola Soft Drink.
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Deciding the Locus Analyse the competitors positioning Fixing the positioning plank Ensuring the Infrastructure for delivering the promise Develop the value proposition Communicate the value proposition Monitoring Repositioning , if required
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Where actually do we want our brand to be lodged in the consumers mind. As what should our brand be seen. For answering the above questions, firm should start with depth analysis of Industry, Nature of competition, what other players are offering, market responces to their offerings.
Firm has to find out the gap in the current product offering·s. ? It is difficult to dislodge the leading brands position from the minds of consumer e.g: Xerox (photocopy) so the newcomer firm has to find out the place where it can position its brand. e.g: Maruti studied the market & found that there was a gap in the sedan segment where Honda City & Hyundai Verna were offered at a premium price, Maruti placed its SX4 @ 6.84 lac(ex-showroom Delhi). Price was competitive & it featured most of the offerings by other products in higher class segment.
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On basis of competitors performance gaps. ? On plank of Quality. ? On plank of Price. ? On plank of Service. ? On products conformity with societal & environmental requirements. e.g: Green Marketing
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South West airlines is the No1 low cost carrier of US. There value proposition is ¶Best prices with dependable services & resonable amenities. For delivering the above said promise they have:
SW Airlines flies more than 100 million passengers a year to 63 cities with a flight schedule of 3300 times a day with a fleet of 500 aircrafts.
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The proposition should be identifiable, meaningful & compelling. What the customer will gain in possessing your offer. Value proposition is statement of benefits & satisfaction the product offer is promising.
e.g: AVIS Car Rentals For Business people who rent cars we offer the best service, because the employees own the company.
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Print media Audio Visual Outdoor Media Internet
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Monitoring how positioning is fairing in the market. Certain refinements may be needed so as to ensure the success. It may take long time & enormous effort to bring back a product from wrong position.
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Repositioning is positioning the product again in the market due to changed charecteristics of the market or wrong positioning of the product. User charecteristics may change or the buyer behaviour may change with time, which may generate need for repositioning.
e.g Complan (Glaxo) Philips (earlier positioned as technology leader but later lost market share to LG & Samsung so repositioned product range as Sence & Simplicity). Milkmaid
doc_947457684.ppt
Product Positioning
Marketing Management
?
According to Ries & Trout in the book POSITIONING : Battle For Your Mind ¶One only remembers the first in the segment, so if you cannot defeat the leader then invent & create your own class·.
?
?
Positioning is an act of fixing the locus of the product offer in the mind of target customer. A product cannot be everything to everyone but has to be something to someone.
? ? ?
Some unique feature of the product Some special need of the market Some gap in the current market offering.
?
?
? ?
Hero Honda found that the 100 cc motorcycle market is overcrowded, it found that there is a segment which can afford a classy bike with more features & more power, Launched Ambition 125 cc bike. Hero Honda was the first company in India to launch High Power bike KARIZMA (225 cc). Kellogs Positioned itself as breakfast cereal. 7 UP positioned itself as Uncola Soft Drink.
? ? ? ?
? ? ? ?
Deciding the Locus Analyse the competitors positioning Fixing the positioning plank Ensuring the Infrastructure for delivering the promise Develop the value proposition Communicate the value proposition Monitoring Repositioning , if required
?
? ?
Where actually do we want our brand to be lodged in the consumers mind. As what should our brand be seen. For answering the above questions, firm should start with depth analysis of Industry, Nature of competition, what other players are offering, market responces to their offerings.
Firm has to find out the gap in the current product offering·s. ? It is difficult to dislodge the leading brands position from the minds of consumer e.g: Xerox (photocopy) so the newcomer firm has to find out the place where it can position its brand. e.g: Maruti studied the market & found that there was a gap in the sedan segment where Honda City & Hyundai Verna were offered at a premium price, Maruti placed its SX4 @ 6.84 lac(ex-showroom Delhi). Price was competitive & it featured most of the offerings by other products in higher class segment.
?
On basis of competitors performance gaps. ? On plank of Quality. ? On plank of Price. ? On plank of Service. ? On products conformity with societal & environmental requirements. e.g: Green Marketing
?
?
?
?
South West airlines is the No1 low cost carrier of US. There value proposition is ¶Best prices with dependable services & resonable amenities. For delivering the above said promise they have:
SW Airlines flies more than 100 million passengers a year to 63 cities with a flight schedule of 3300 times a day with a fleet of 500 aircrafts.
?
?
?
?
The proposition should be identifiable, meaningful & compelling. What the customer will gain in possessing your offer. Value proposition is statement of benefits & satisfaction the product offer is promising.
e.g: AVIS Car Rentals For Business people who rent cars we offer the best service, because the employees own the company.
? ? ? ?
Print media Audio Visual Outdoor Media Internet
? ?
?
Monitoring how positioning is fairing in the market. Certain refinements may be needed so as to ensure the success. It may take long time & enormous effort to bring back a product from wrong position.
?
?
Repositioning is positioning the product again in the market due to changed charecteristics of the market or wrong positioning of the product. User charecteristics may change or the buyer behaviour may change with time, which may generate need for repositioning.
e.g Complan (Glaxo) Philips (earlier positioned as technology leader but later lost market share to LG & Samsung so repositioned product range as Sence & Simplicity). Milkmaid
doc_947457684.ppt