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Positioning in marketing refers to the act that helps to design products or services of an organization to occupy a specific place in the target market’s mind.
Positioning helps the brand or a product to appear as an expert and this increases its worth amongst the customers.
Positioning Strategies
1. Product Attributes
Relates to the product’s features
Example – Apple WatchOS 7
2. Product Benefits
The focus is on the distinctive benefits for the customer on using the product
Example – Amazon Prime
3. Product User Positioning
After identifying the target group the onus is on positioning the product in a place that is best for them
Example - Gatorade
4. Competitive Positioning
Positioning of the product can be against or away from the competition
Example – Burger King vs McDonald's
5. Quality Positioning
The focus of the positioning is on the organization’s quality leadership
Example – Tesla, Apple
6. Price Positioning
Involves communicating the best value for the price the consumer pays
Example – Walmart
7. Leadership Positioning
Accepting to the consumer that the company has the acceptance of the majority
Example – Nike, Adidas
8. Excellence Positioning
Positioning based on the performance and efficiency of the firm
Example – Marriott, Taj
9. Positioning by Cultural Symbols
Using cultural symbols to differentiate brands from competitors
Example – Baileys Irish Cream
Positioning Procedure
1. Identifying the competitors by considering all the potential competitors and various effects of use and situations on the consumer.
2. Determining how the competitors are perceived and evaluated by the customers and what are characteristics they consider important.
3. Determining the position of the competitor concerning each characteristic to see how both are positioned to each other.
4. Analyzing the preference of the customer to understand the difference between consumers and their purchases, lifestyles, demographic difference etc.
5. Making the positioning decision with the help of research.
6. Monitoring the position that has been established to understand growth over time
This video is on Positioning strategies and has the following sub-topics.
Time Stamps
0:00 Introduction to Positioning Strategies
00:31 Positioning Strategies
02:42 Positioning Procedure
