how can a firm develop and establish an effective positioning in the market
TRANSCRIPT
{Brand positioning
How can a firm develop
and establish an effective
positioning in the market?
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?
Positioned as Backache specialist Target consumers: Housewives
with frequent backaches
To locate the brand in the minds of consumers
Goal
1Consumer needs and
wants
2Company
capabilities
3Competitiv
e action
Considerations
Customer focused value propositionA cogent reason for
“why the target market should buy the product”
Result
Target customers
Benefits
Value propositio
n
• Convenience minded pizza lovers
• Delivery speed
• Good quality• Good hot pizza within 30 min of ordering
Determining a competitive frame of
reference
Identifying and establishing POPs and
PODs
Creating a Brand Mantra
Steps for developing a Brand Positioning
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
Vs
2.Choosing and Establishingoptimal PODs and POPs
POD???????
POP???????
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
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
Points of parity
Category POPsNecessary conditions for
a brand choice
Competitive POPsDesigned to overcome
perceived weaknesses of the brand
Example of competitive POP
Savlon had to highlight “no-sting “property to counter the category perception
and strong association created by Dettol
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
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
Brand Mantra is made of
Brand Function
Descriptive modifier
Emotional modifier
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
Your consumers have to understand the brand in the
way you want them to
One approach to communicate formally : Bull’s Eye
Alternative approaches to Brand Positioning
• Brand Narratives and story telling
• Brand Journalism
• Cultural Branding
Positioning and Branding a small Business
Problem with small businesses is
Hence follow these• Focus and consistency in marketing
programs• Creativity- highly recommended
Recap
Positioning overviewCompetitive Frame of referencePODs and POPsBrand MantraAlternatives for positioningSmall Businesses Positioning