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MARKET NEEDS / ATTRACTIVENESS

MARKET NEEDS / ATTRACTIVENESS. Strategic Investment Defining the Target Segment(s) Crafting the Value Proposition Creating the Mix to Deliver the Value Proposition Communicating the Value Proposition. COMPETITORS STRENGTHS / WEAKNESSES. ORGANISATIONAL STRENGTHS / WEAKNESSES.

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MARKET NEEDS / ATTRACTIVENESS

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  1. MARKET NEEDS / ATTRACTIVENESS • Strategic Investment • Defining the Target Segment(s) • Crafting the Value Proposition • Creating the Mix to Deliver the Value Proposition • Communicating the Value Proposition COMPETITORS STRENGTHS / WEAKNESSES ORGANISATIONAL STRENGTHS / WEAKNESSES

  2. Positioning

  3. Product Positioning Process • Defining the market in which the product or brand will compete (who the relevant buyers are) • Identifying the attributes (also called dimensions) that define the product 'space' • Collecting information from a sample of customers about their perceptions of each product on the relevant attributes • Determine each product's current location in the product space • Determine the target market's preferred combination of attributes (referred to as an ideal point) • Examine the fit between: • The position of your product • The position of your competition • The position of the ideal point • Position

  4. Perceptual Mapping • STEP 1: Sample from Target Market • STEP 2: List of Relevant Attributes • STEP 3: Ranking of Attributes (Top 2) • STEP 4: Rate Existing Brands • STEP 5: Consumer Ideal Point • STEP 6: Overlay Brands & Ideal Point

  5. Perceptual Mapping of Motorcycles

  6. Step 1: TG Sampling • 18-24 Male, College Student, MHI > 50,000, Living in a City, High peer pressure • Random Sampling

  7. STEP 2: List of Relevant Attributes • Power • Price • Style • Fuel Efficiency • Cost of Maintenance

  8. STEP 3: Ranking of Attributes (Top 2) • Price • Style

  9. STEP 4: Rate Existing Brands HIGH PRICE E Y B LOW STYLE HIGH STYLE HH T LOW PRICE

  10. STEP 5: Consumer Ideal Point HIGH PRICE LOW STYLE HIGH STYLE IP LOW PRICE

  11. STEP 6: Overlay Brands & Ideal Point HIGH PRICE R Y B LOW STYLE HIGH STYLE HH IP T LOW PRICE

  12. POPs • Points-of-parity (POPs) – Associations that are not necessarily unique to the brand but may be shared by other brands • Considered to be hygiene factors in any product by the consumer • Absence could drive rejection

  13. POD • Point of difference (POD) is a term used to describe the individual factors which make a product different from its competitive set • The key point of difference of a company is synonymous with its unique selling proposition (USP) • Critical in defining its competitive advantage • Must be attributes or benefits that consumers strongly, uniquely, and positively associate with the company's brand

  14. Types of Positioning • Functional positions • Solve problems • Provide benefits to customers • Tide Surprisingly White • Symbolic positions • Self-image enhancement • Ego identification • Belongingness and social meaningfulness • Pepsi on Youth • Experiential positions • Provide sensory stimulation • Provide cognitive stimulation • Red Bull Energy in a Bottle

  15. Checks for a Good Positioning • Have we established a frame of reference? • Are we delivering on the points of parity? • Are the points of difference compelling?

  16. Defining the Positioning • BPS: Statement on how the marketer wants the consumer to perceive the brand • 4 Elements: • Target Audience • Frame of Reference • POD • RTB

  17. BPS Format • "For (target audience), (company name) offers (competitive frame of reference) that provides (greatest competitive advantage).” • "For low income housewives, Wheel offers the wash of an expensive-like powder within her budget."

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