Positioning: Marketing and Product
1. Positioning- Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the minds of the target market. The goal is to locate the brand in the minds of consumers to maximize the potential benefit to the firm.
The result of positioning is the successful creation of a customer focussed value proposition. Examples-
a) Mahindra & Mahindra positioned their SUV Scorpio to life style oriented consumers. b) Indica by Tata Motors for small car consumers who want a more spacious vehicle.
c) Domino’s Pizza for convenience-minded pizza lovers . Benefits being delivery, speed, and good quality.
2. Mind share- Mind share or the development of consumer awareness or popularity, is one of the main objectives of advertising and promotion. When people think of examples of a product type or category, they usually think of a limited number of brand names.
Examples-
a) The term googling describing the act of online searching.
b) Very few people realize that "Band-Aid" is a specific brand of first-aid adhesive bandage, and they refer to all such items by that name even if it is a different brand.
c) Xerox is often used in case of copying.
3. Perceptual mapping- Perceptual mapping is a graphics technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers. Typically the position of a product, product line, brand, or company is displayed relative to their competition.
Perceptual maps can have any number of dimensions but the most common is two dimensions. Any more is a challenge to draw and confusing to interpret.
Example-
The perceptual map below shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable. This sample of consumers felt Porsche was the sportiest and classiest of the cars in the study (top right corner). They felt Plymouthwas most practical and
The result of positioning is the successful creation of a customer focussed value proposition. Examples-
a) Mahindra & Mahindra positioned their SUV Scorpio to life style oriented consumers. b) Indica by Tata Motors for small car consumers who want a more spacious vehicle.
c) Domino’s Pizza for convenience-minded pizza lovers . Benefits being delivery, speed, and good quality.
2. Mind share- Mind share or the development of consumer awareness or popularity, is one of the main objectives of advertising and promotion. When people think of examples of a product type or category, they usually think of a limited number of brand names.
Examples-
a) The term googling describing the act of online searching.
b) Very few people realize that "Band-Aid" is a specific brand of first-aid adhesive bandage, and they refer to all such items by that name even if it is a different brand.
c) Xerox is often used in case of copying.
3. Perceptual mapping- Perceptual mapping is a graphics technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers. Typically the position of a product, product line, brand, or company is displayed relative to their competition.
Perceptual maps can have any number of dimensions but the most common is two dimensions. Any more is a challenge to draw and confusing to interpret.
Example-
The perceptual map below shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable. This sample of consumers felt Porsche was the sportiest and classiest of the cars in the study (top right corner). They felt Plymouthwas most practical and