Importance of Positioning in Marketing - Essay Example

A well-planned and executed positioning positively differentiates the product from the competition. For maximum effectiveness, all marketing activities for a particular product should reflect one correct positioning. Product positioning should be focused not only on the present but should be adaptable for the product and the marketplace in the long term also. (Hiebing Jr., Roman G.; Cooper, Scott W. 2003 pp.145-146).

2. Is there a difference between brand and product positioning?
Product positioning focuses on the attributes of the specific product in a market type. First of all, it is essential to understand how the product outperforms the competitors. Adroitly picking one or two key product attributes which are superior as compared to the competition, is important. Attacking competitors along axes corresponding to these attributes is the next critical step. The axes may be feature/ technology, price/ performance, and channel/ margin axis. In entering an existing market, product positioning specifically influences the value customers to place on its new features. (Blank, Steven G. 2006 p.46).

Brand positioning is a process of establishing and managing: the images, perceptions, and associations that the consumer applies to the product, based on the values and beliefs associated with the product. These are managed through the application of the brand positioning elements (name and graphic components) consistent with the product’s positioning, in all target market communication relating to the company, product, or service. The brand represents the values, personality, and experience that people associate with the company. A brand provides a point of reference: a reason to choose the company, product, or service over the competition. (Hiebing, Jr., Roman G.; Cooper,
Scott W. 2003 p.144). Effective brand positioning is crucial for the company’s progress.
3. What are the steps involved in positioning a product like chewing gum, for instance?
A product like chewing gum can be positioned by Mapping: mapping out visually what is important to your target market in terms of key product attributes. Most effective when based on quantitative research that is representative of the marketplace. This positioning approach will also help to more clearly evaluate how the product and the key competition are perceived on each attribute. The three steps are: 1) List product attributes by importance. In the case of chewing gum, the attributes to be considered would be: quality, price, product consistency, favorable reputation, etc. 2) Rate the product and competitors’ products for each attribute. Rate each competitor from best to worst for each attribute. For each rating place the initial of each key competitor, including the company’s product, on the line of each attribute ranking. Make a master listing of these keys under company/ product/ store. Survey research will quantify the perceptions of the users and/or purchasers.
3) Complete the positioning map. Visualize the desired position on the map for the company’s product. Select the positioning approach that will affect the target market’s perceptions, and attain the visualized positioning. (Hiebing Jr. Roman G, Cooper Scott W. 2003 pp.155-156).
4. What are the various ways of positioning a product or service?
There are several methods by which positioning a product or service can be done: 1)Position by attribute, such as safety, durability, price, quality, use, or application. 2) Position by creating a new product line by studying crucial attributes required for the product using a market survey. 3) Position using adding benefits or value to an already existing product.