Placement in the Market
In the marketing sector, positioning refers to the process by which marketers aim to create an identity or image for their brand, product, or business in the eyes of their target market. Brand positioning is an important part of marketing strategy.
It entails developing a brand and product for the company that the target market will remember. A good brand positioning helps with the creation of marketing strategies by clarifying a brand’s essence, points of distinction, similarities with competitors, and reasons why customers buy it. Therefore, to put it simply, a brand’s positioning refers to how its target audience and existing customers perceive it.
Market positioning is the ability to influence customers’ opinions about a brand or product in relation to competitors. The goal of market positioning is to create a brand’s or product’s identity or image to affect consumers’ views of it.
As an example: A producer of accessories may position themselves as a luxury status symbol.
- A TV maker could present their model as the most sophisticated and innovative.
- A fast-food restaurant may advertise itself as a place to get reasonably priced food.
- Various Types of Positioning Methods
- There are many varieties of placement strategies. The following are a few examples of placement by:
- Features and advantages of the product: Connecting your product or brand to beneficial attributes or ideals
- Cost of the product: Connecting your brand or products to affordable prices
- Quality of the product: establishing a link between your brand and exceptional quality
- Utilization and application of the product: Connecting your product or brand to a specific objective
- Competitors: Persuading consumers that your brand or product is better than those of your competitors
Techniques for Aligning
Features and advantages of the product are utilised to place
It entails associating a product with a quality, characteristic, or aspect that the buyer finds appealing. At times, a product may be positioned simultaneously with respect to two or more attributes. The location of the objects is often ascertained using the price/quality characteristic dimension.
One well-liked tactic is setting the business apart from competitors via features or benefits offered. At times, a product’s positioning may take into account several advantages. Marketers aim to identify salient traits, or those that customers find important and use as the basis for their purchasing decision.
establishing a ratio of cost to quality
Marketers often utilise features related to price and quality to promote their brands. One way they do this is by creating premium brand marketing, where the expenditures are still substantial but are seen as incidental to the higher benefits of using the brand. Premium companies who occupy the top spot in the market position their products using this technique.
Another way to use price/quality features for positioning is to focus on the value or quality that the brand gives at a very competitive price. The product quality has to be at least as good as that of competitors’ for the positioning strategy to work, with price playing a significant role.
Organizing based on Use or Application
Conveying a certain attitude or image for a brand in order to associate it with a specific application or use is another tactic. Surf Excel is marketed as a stain remover with the slogan “Surf Excel hai na!” Clinic Clear also says, “Dare to wear black.”
Positioning by Product Class
Often, a product’s rivals are found outside of its class. For example, airlines know that while they compete with other airlines, buses and trains are equally viable alternatives. The cassette market presents competition for record companies. The product is contrasted with alternatives that provide a comparable class of benefits but differ somewhat.
Product User Placement
Positioning a product by associating it with a certain user group or customer is another tactic. The user persona for the product, Motorola Mobile, has been included in this advertising.
rival positioning
Rivals may be just as important to a company’s positioning strategy as its own products or services. Focusing on specific competitors could be an effective positioning approach for a brand or product in the present market.
The technique is similar to positioning by product class, even when the competitor is in the same product category as in this case. Onida put herself up against the heavyweights of the television industry with this strategy. “Owner’s pride, neighbor’s jealousy” was the slogan used to launch Onida colour TV, a platform that asserted its superiority over all others.
Orientation Using Icons of Culture
This additional positioning strategy leverages cultural icons to distinguish the businesses. Among them are Humara Bajaj, Tata Tea, and Ronald McDonald. Each and every one of these emblems has been successful in differentiating its products from competitors