Positioning is defined as the way by which the marketers creates impression in the customer's mind. An easier way to clarify the definition and importance of positioning is to think of Apple. Just say the word Apple to anyone under 35 and I bet they think of the company and not the fruit. And when you think Apple you probably think cool and sleek design, that's called positioning. When you hear Rolls Royce you automatically think about the more affluent luxury customer, which is directly opposite of Kia's positioning. You have to be strategic to fight for that position/space in your consumers' mind. - How will you position your company/product?
- What will the customers think will someone says your company name or product's name?
All marketing strategy is built on STP: Segmentation, Targeting, and Positioning.A company discovers different needs and groups in the marketplace, targets those needs and groups that it can satisfy in a superior way, and then positions its offering so that the target market recognizes the company's distinctive offering and image. As companies increase the number of claimed benefits for their brand, they risk disbelief and a loss of clear positioning. In general, a company must avoid four major errors: - Under positioning: Some companies discover that buyers have only a vague idea of the brand. The brand is seen as just another entry in a crowded marketplace. When Pepsi introduced its clear Crystal Pepsi in 1993, customers were distinctly unimpressed. They didn't see "clarity" as an important benefit in a soft drink.
- Over positioning: Buyers may have too narrow an image of the brand. Thus a consumer might think that diamond rings at Tiffany start at $5,000 when in fact Tiffany now offers affordable diamond rings starting at $1,000.
- Confused positioning: Buyers might have a confused image of the brand resulting from the company's making too many claims or changing the brand's positioning too frequently. This was the case with Stephen Job’s sleek and powerful NeXT desktop computer, which was positioned first for students, then for engineers, and then for businesspeople, all unsuccessfully.
- Doubtful positioning: Buyers may find it hard to believe the brand claims in view of the product's features, price, or manufacturer. When GM's Cadillac division introduced the Cimarron, it positioned the car as a luxury competitor with BMW, Mercedes, and Audi. Although the car featured leather seats, a luggage rack, lots of chrome, and a Cadillac logo stamped on the chassis, customers saw it as a dolled-up version of Chevy's Cavalier and Oldsmobile's Firenze. The car was positioned as "more for more": customers saw it as "less for more."
The benefits of a planned marketing strategy are numerous. Business owners often rely solely on their intuition to make business decisions. While this informal knowledge is important in the decision making process, it may not provide you with all the facts you need to achieve marketing results. A marketing strategy will help you in defining business goals and develop activities to achieve them.
Here's How: - Describe your company's unique selling proposition (USP)
- Define your target market
- Write down the benefits of your products or services
- Describe how you will position your products or services
- Define your marketing methods (Will you advertise, use internet marketing, direct marketing, or public relations)
Tips:- Your Unique Selling Proposition sets you out from the rest, don't try to develop a marketing plan without one.
- It's important that you have a budget developed for your marketing plan. Marketing is an investment.
- Revisit your marketing plan at least once every quarter. Are you on target? Do you need to revise it?
This week we will be focusing on Marketing and Branding. So we started this week with the number one asked question when it comes to marketing; how do I get more customers?In order to get more customers you need to determine:- Who are the right people to target.
- What is the right message to communicate to them that will convince them to purchase from you.
- What are the most economical and effective marketing vehicles to communicate your message.
- Test and track.
These questions should be answered with clarity and relevant to your industry/service/product. If you need any help or suggestions we offer Free Consultation.
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