How can a firm develop and establish an effective positioning in the market

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{ Brand positioning

Transcript of How can a firm develop and establish an effective positioning in the market

Page 1: How can a firm develop and establish an effective positioning in the market

{Brand positioning

Page 2: How can a firm develop and establish an effective positioning in the market

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?

Page 4: How can a firm develop and establish an effective positioning in the market

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