Market Positioning – BMS Notes

The process by which marketers attempt to establish an identity or image for their product, brand, or company in the eyes of their target market has come to be known as positioning in the marketing industry. In marketing strategy, brand positioning is crucial.

It involves creating a brand and offering for the business that will make a lasting impression on the target market. By elucidating a brand’s essence, points of differentiation, similarities with rival brands, and reasons for customer purchase, a strong brand positioning aids in the development of marketing strategies. Therefore, to put it simply, brand positioning is the standing or perception that a brand has among its target audience as well as current consumers.

The capacity to shape consumers’ perceptions of a brand or product in comparison to rivals is known as market positioning. Establishing a brand’s or product’s identity or image to influence customers’ perceptions of it is the aim of market positioning.

As an illustration:

• An accessory manufacturer could present itself as a high-end status symbol.
• A TV manufacturer could advertise their product as the most advanced and cutting-edge.
• A fast-food business may present itself as the source of affordable meals.
• Different Sorts of Positioning Techniques

Different kinds of placement tactics exist. Here are some instances of placement by:

Features and advantages of the product:

• relating your company’s name or merchandise to certain traits or advantages
• Cost of the product:
• Linking your product or brand to competitive pricing
• Quality of the product:
• Linking your product or brand to excellence
• Utilization and application of the product:
• Linking your product or brand to a particular application
• Competitors:
• convincing them that your product or brand is superior than those of your rivals
• Strategies for Positioning
• Product benefits and features are used to position

It involves connecting a product to a trait, an attribute, or a feature that appeals to the customer. A product may sometimes be positioned concurrently in terms of two or more qualities. The dimension of price/quality characteristic is often used to determine the items’ location.

One popular strategy is differentiating the brand from rivals based on features or advantages provided. A product may sometimes be positioned based on many benefits. Marketers try to pinpoint salient features, or those that consumers find significant and use as the foundation for a choice to buy.

Setting up a price/quality ratio

Price/quality attributes are often used by marketers to promote their businesses. One method they do this is by advertisements that portray a premium brand in which the costs are seen as incidental to the superior advantages of utilising the brand, even if the costs are still significant. This strategy is used by premium brands that are positioned at the top of the market to position the product.

Concentrating on the value or quality that the brand offers at a very competitive price is another method to leverage price/quality characteristics for positioning. For the positioning strategy to be successful, the product quality must be on par with or even greater than that of rival companies, pricing being a major factor.

Arrangement according to Application or Use

Another strategy is to convey a certain stance or image for a brand in order to link it to a particular application or usage. “Surf Excel hai na!” is how Surf Excel is positioned as a stain remover. Furthermore, Clinic Clear: “Dare to wear black.”

Product Class Positioning: Outside of a product’s class is often where competition for a certain product originates from. Airlines, for instance, are aware that while they compete with other airlines, buses and railroads are also respectable substitutes. Record labels have to contend with competition from the cassette market. The product is compared to others that provide a similar class of advantages but are not precisely the same.

Product User Positioning

Another strategy is to position a product by connecting it to a certain consumer or user group. Motography Motorola Mobile has positioned the product user in this advertisement.

Competitor Positioning

When it comes to positioning strategy, rivals could be just as significant as a company’s own goods or services. In the current market, concentrating on certain rivals may be a successful positioning strategy for a brand or product.

Although the competition is in the same product category as in this instance, the strategy is comparable to positioning by product class. With this tactic, Onida was positioned against the titans of the television business. “Neighbor’s envy, owner’s pride” was the tagline used to introduce Onida colour TV, which claimed to be the leader and all others to be clones.

Orientation Through Cultural Icons

This is an extra positioning technique that uses cultural symbols to set the companies apart. Ronald McDonald, Tata Tea, and Humara Bajaj are a few examples. Every single one of these symbols has been effective in setting its own goods apart from rivals