how can a firm develop and establish an effective positioning in the market?
TRANSCRIPT
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?
Customer focused value propositionA cogent reason for
“why the target market should buy the product”
Result
Target customers
Benefits
Value proposition
•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
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 POPs
Necessary 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 MantraThe heart and soul of the brand
Brand Mantra/Core Brand promise/Brand essenceis what the brand is most fundamentallyto represent with customers
Authentic Athletic Performance
Criteria to design a Brand Mantra
Communicateabout 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
Establishing Brand positioning
Actual task of establishing a brand positionis to communicate it to everyone in the organisation formally and then to the
consumers
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