POSITIONING STRATEGY
A firm should change its positioning on the market since
A brand positioning is a one- or two-word statement that expresses the specific importance of your product to your consumers concerning your leading rivals. In having crossed the Chasm, Geoffrey Robinson offers a way of constructing a policy statement: for (target market) who (assertion of the need chance) is (product description) a (target market) that (declaration of major feature; also named a convincing reason to think). Apart from (main competitive option), our brand (primary variability statement)( Iyer, 2019). Even so, in the subsequent paragraph, we include a more concise framework for the formulation of the put the company Argument.
Positioning statement
- Customer base: how is a concise description of the attitude and population explanation of the targeted customers that your product is looking to persuade and entice?
- Market formulation: What section does your product compete in, in what timeframe does your product have significance to your clients?
- Brand name: what would be the most convincing (interpersonal/reasonable) profit to your potential customers that your product could own concerning your contest?
- Reason to suspect: what was the most credible evidence that your product provides on its brand image?
Advantages of positioning a firm on its market
Branding
Companies may opt to expand their position to build a brand. A brand is a web address that brands an item or group of products and has a different place in the target of clients. Brand products that clients see as beneficial order high prices. Brands may apply for their position in the market to innovative technologies introduced by the parent corporation. This is an additional benefit over firms that do not have a brand identity because non branded newer products cannot afford a price.
Claims of category
Marketers use ads to make statements that the item refers to the category and to explain the role of the consumer in the classification. Class arguments tell how the quality is superior to its rivals (Hu, 2019). For example, pen advertising may make the rating argue that it falls out of ink much less often other pens. Class statements help to identify and reinforce the role of the brand and the image of the brand.
Disadvantage of positioning a firm on its market
The possible drawback of product placement is that every organization needs to place its goods favourable in the minds of the customers so that there is typically a high level of competition. Latest companies, for example, often find it hard to market their products on an industry of well-established competitors.
References
Hu, S., & Dong, Z. S. (2019). Supplier selection and pre-positioning strategy in humanitarian relief. Omega, 83, 287-298.
Iyer, P., Davari, A., Zolfagharian, M., & Paswan, A. (2019). Market orientation, positioning strategy and brand performance. Industrial Marketing Management, 81, 16-29.