Marketing Management 3 assigment 750-900 words each assigment

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Positioning

5. 1

What is Positioning?

• Positioning • Who your brand or company is in the

marketplace, vis-à-vis the competition, and in the eyes of the customer

• It has physical and perceptual elements

• STP = Segment, Target and Position

Discussion Questions

1. Describe the positioning for the following: • Stanford

• Your local community college

• Gonzaga

• Ohio State University

2. How does a firm obtain its position?

What Determines Positioning?

• Positioning is determined by the marketing mix • Product offered

• Pricing charged

• Distribution implemented, and

• Message communicated

Positioning Via Perceptual Maps

• Perceptual maps show graphical depictions of where brands are, and where their competitors are, in the minds of their customers • Brands close together are seen as similar

• Brands farther apart are viewed as different

Positioning Questions

1.Which brands are most interchangeable?

2.Which brand competes more with Prius?

3.Which brand(s) is attractive to segment 1?

4.What market opportunity exists? • Is this opportunity a reasonable offering?

Positioning Questions

1.How would you compare Rome/Nassau?

2.The firm implemented a promotional campaign highlighting how reasonably priced Maui is. Was it successful?

3.Which segment offers an opportunity?

Positioning Questions

• A gym is rated on various qualities and the importance of the qualities

1. Which quality is most important?

2. What is the club doing well/not well?

3. What one thing would you invest in?

Maps for Competitive Analysis

• Competitive health clubs are rated • However, map is limited to two dimensions

• Price and satisfaction with # of machines

Maps for Competitive Analysis

• Utilize a bar chart to show more than two dimensions

The Positioning Matrix

• Companies usually can’t be great at everything due to limited resources • Can a firm realistically hold the lowest price,

highest quality position?

• Marketers need to determine the “best” position for the firm

Quality and Price Align

• Optimal matches: • High-End & Value

• Suboptimal matches: • Overpriced: customers stop buying; firms drop

price, increase quality or leave market

• Good value: firms increase price or lower quality

Promotion & Distribution Align

• Optimal matches • Mass and Niche

• Suboptimal matches • Hard to get: Why promote heavily if consumers

can’t find the product?

• Under-advertised: If a brand has an exclusive image, why distribute it everywhere?

Optimal Matches

• 16 combinations can be reduced to two

Examples of Brands in 4 Ps Matrix

• In the real world, many brands occupy the natural matches; however, some brands appear in the suboptimal combinations

• Have good reasons for moving from natural matches

Writing a Positioning Statement

• Positioning statement • Succinctly communicates parameters of a

position

• Consider • Your target market

• Your unique selling proposition (USP) – If a “real” attribute difference does not exist,

create a “perceived” image difference

• e.g., For customers who want {target}, our brand is the best at {USP}.

Writing a Positioning Statement

• Answer the following questions: 1. Who are you trying to persuade?

2. Who are you competing with? • e.g., Who are your competitors, what is

your major product category, etc.?

3. How are you better? • e.g., What makes you unique, what are

your points of difference, do you have any benefit that dominate competitors, etc.?

Writing a Positioning Statement

• Make sure your statement is succinct • Prioritize your brand benefits and choose

the most important, compelling differentiator – Think about what benefits the customer

• Examples: • Timex: “Takes a licking and keeps on ticking”

(product quality)

• Burger King: “Have it your way” (customizability)

Managerial Recap

• Positioning is important

• Positioning is seen through the eyes of the customer • Perceptual maps help facilitate an

understanding of position

• Positioning is achieved via the marketing mix

Managerial Recap

• The positioning matrix demonstrates that certain marketing mix combinations are more optimal than others

• Positioning statements guide marketing strategies and tactical actions • They should indicate the target, a

competitive frame of reference, and a unique selling proposition