how can a firm develop and establish an effective positioning in the market
TRANSCRIPT
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{Brand positioning
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How can a firm develop
and establish an effective
positioning in the market?
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Positioning is the act of designing a company’s
offering and image to occupy a
distinctive place in the minds of the target market
What is positioning?
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Positioned as Backache specialist Target consumers: Housewives
with frequent backaches
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To locate the brand in the minds of consumers
Goal
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1Consumer needs and
wants
2Company
capabilities
3Competitiv
e action
Considerations
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Customer focused value propositionA cogent reason for
“why the target market should buy the product”
Result
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Target customers
Benefits
Value propositio
n
• Convenience minded pizza lovers
• Delivery speed
• Good quality• Good hot pizza within 30 min of ordering
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Determining a competitive frame of
reference
Identifying and establishing POPs and
PODs
Creating a Brand Mantra
Steps for developing a Brand Positioning
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1. Determining a competitive frame of reference
Determining Frame of Reference
Identifying Target Market
Determining Competitive
Frame of Reference
Identifying Competitors
Analysing their strengths and weaknesses
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Vs
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2.Choosing and Establishingoptimal PODs and POPs
POD???????
POP???????
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Attributes provided by the brand that are perceived by the customers as “ The Best from the Rest”
Points ofDifference
Points ofParity
Attributes which may not be unique but shared with competitors
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Desirability
• Brand association should be personally relevant to consumers
Deliverability
• Internal resources and commitment to maintain the brand association in minds of the consumers
Differentiability
• Brand association must be perceived as superior and distinct by consumers
Points of Difference Criteria
POD
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Points of parity
Category POPsNecessary conditions for
a brand choice
Competitive POPsDesigned to overcome
perceived weaknesses of the brand
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Example of competitive POP
Savlon had to highlight “no-sting “property to counter the category perception
and strong association created by Dettol
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3. Creating Brand Mantra The heart and soul of the brand
Brand Mantra/Core Brand promise/Brand essence is what the brand is most fundamentallyto represent with customers
Authentic Athletic Performance
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Criteria to design a Brand Mantra
Communicate about the category of the business for the brand
Simplifyso that it is short and crisp
InspireSo that it becomes personally relevant to most of the employees
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Brand Mantra is made of
Brand Function
Descriptive modifier
Emotional modifier
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Establishing Brand positioning
Actual task of establishing a brand position
is to communicate it to everyone in the organisation formally and then to the
consumers
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Your consumers have to understand the brand in the
way you want them to
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One approach to communicate formally : Bull’s Eye
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Alternative approaches to Brand Positioning
• Brand Narratives and story telling
• Brand Journalism
• Cultural Branding
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Positioning and Branding a small Business
Problem with small businesses is
Hence follow these• Focus and consistency in marketing
programs• Creativity- highly recommended
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Recap
Positioning overviewCompetitive Frame of referencePODs and POPsBrand MantraAlternatives for positioningSmall Businesses Positioning