Strategic Planning Competitive Positioning What sets your product, service and company apart from your competitors? What value do you provide and how is it different from the alternatives? Size, competitors, stage of growth Customer segments: Strengths, weaknesses, opportunities and threats in the landscape Method for delivering value:
What worked and yielded profits last year may not work as well this year. Product differentiation and positioning are key parts of a company's marketing strategy and are necessary to keep ahead of competition.
They also require an innovative spirit coupled with careful analysis. Product Differentiation Product differentiation is the incorporation of attributes, such as quality or price, into a product to encourage the intended customers to perceive it as different and desirable.
For example, if your company sells seat belts to automotive manufacturers, perhaps your unique value is never-fail, on-time delivery with no rejected belts.
If other seat belt manufacturers are not meeting these desired goals, you will have a unique advantage against your competition, and will have differentiated your seat belts from those of your competitors.
Product Positioning Positioning is how you provide your product or service brand identification as you go to market.
It is the next step after you have determined how to differentiate your product or service. In the seat belt example, the seat belt manufacturer can market itself on the premise that it does not miss delivery times and that its products are free of flaws.
An analysis of the repositioning of the “BMW Mini” brand C. Simms and P. Trott Business School, University of Portsmouth, Portsmouth, UK Abstract. Hypochondria is the interpretation of bodily symptoms as signs of a serious illness. Frequently the symptoms are normal bodily functions, such as coughing, pain, sores, or sweating. Although some people will be aware that their concerns are excessive, many become preoccupied by the symptoms. An analysis of the repositioning of the “BMW Mini” brand, Journal of Product & Brand Management, Vol, No.5, pp. University username and password required off-campus (Select Institution Login, UK Federation then University of Manchester.
The product is positioned against those of competitors on the basis of timely delivery and excellence in manufacturing. All of the seat belt manufacturer's major marketing efforts should emphasize this positioning in the marketplace.
Positioning Statement A positioning statement is a short sentence or phrase that conveys the essence of the differentiation and positioning strategies and is developed after these have been set. This statement is used as a marketing tool by which to judge all marketing materials to see if they are in keeping with the strategies.
A positioning statement for the seat belt manufacturer might be, "On-time delivery and flawless manufacturing.
Rather, it is often used as a check to make sure all marketing materials produced convey the essence of how the product is differentiated and positioned against competitors. Relationships among the Three Product differentiation, positioning and positioning statements go together one after the other.
Once you have decided how best to differentiate your product based on customer needs and wants, the next step is to determine how to position it in the marketplace.
The positioning statement then follows the positioning strategy. The Importance of Imagination Successful differentiation and positioning strategies depend on an imaginative approach to the marketplace.
For example, if you are a tennis racket manufacturer making high-performance rackets for the serious tennis player, you might consider opening up an entirely new market segment.
This might be the creation of high-performance rackets for the average player, who can then benefit from the technology previously only offered to pros. As part of her consultancy, she writes advertising copy, newsletters, speeches, website content and marketing collateral for small and medium-sized businesses.
She has been writing for more than 20 years.
She is also a business strategist, trainer and executive coach.Read "An analysis of the repositioning of the “BMW Mini” brand, Journal of Product & Brand Management" on DeepDyve, the largest online rental service for scholarly research with thousands of academic publications available at your fingertips.
Mini: reinventing a brand icon. From the sharing economy to startup accelerators, Mini is ‘growing up’. including new designs, a new logo and a new positioning for its cars. or you start playing with it and really shape the future. That’s what we’re doing,” says Lengning.
The Mini heritage. In the rush to embrace digital.
The best start for any positioning analysis is gaining a thorough knowledge of a product or service's target market. This is the group of people or businesses that will best benefit from the use. Readbag users suggest that nysb__pdf is worth reading. The file contains page(s) and is free to view, download or print.
– The findings reveal a substantial repositioning of the brand's functional appeal, moving away from the car's price as an appeal towards product build quality. title = "An analysis of the repositioning of the “BMW Mini” brand", abstract = "Purpose – This paper aims to adopt a consumer behaviour perspective and investigate the extent to which BMW has repositioned the new “Mini”.