1.0 Introduction
Customers place advertisements that are presently mainly on the market or are about to join the market in a position known as positioning (Kotler, 2015). The authors say that via positioning, firms concentrate on building a supplier’s image compared to a competitor’s product or items created by the same company. The objective is to control consumers’ attention to a particular brand and generate market distinction that operates in favour of the organization offering the item compared to similar items. In addition time, Azmat and Lakhani (2015) believe that positioning is an activity that involves preparing the product supplied by a firm and its brand to obtain a unique place in the mind of the potential customer. The writers propose this approach since companies aim to put the product in the client’s consciousness to guarantee that the organisation receives the most benefit. They also believe that good product positioning will help guide the company’s marketing efforts by explaining the brand’s core, identifying the objectives that the organisation allows consumers to achieve, and exemplifying the distinctive way it is done. Finally, key decision-makers within the business must understand the importance of product positioning and base their choices on that understanding (Cristea, 2014).
Three basic concepts underpin product positioning theory (Al Ries, 1986). The first argument is that we live in a culture assaulted with a tremendous amount of interaction and a massive flood of information daily. The second argument would be that human brains have evolved a defensive mechanism to deal with the immense amount of data they are bombarded with. Finally, the third premise is about developing or implementing techniques to help cut through the clutter and reach the desired audience by employing focused and straightforward communication. However, the author’s notion is somewhat antiquated; it nonetheless makes complete sense in today’s digital age. Finally, there is such an outpouring of information that it grows critical to cut through the clutter and leave an impression on the minds of the consumers.
According to Hanna and Rowley (2013), typically, marketing confrontations are not conducted at the store or the customer’s workplace. Customer service offices and supermarkets are just distribution locations for the goods. Marketing battles are waged in mind. Product positioning strategies are considered essential for putting the notion into action. Wu et al. (2017) emphasise that effective product positioning strategies can be attained by considering the consumer’s viewpoint and the importance they assign to essential qualities of a given product that can be gathered under a construct. Hanna and Rowley (2013) statement are logical since they are correct in claiming that positioning does not mean simply positioning a product in the shopping centre but instead impacting the consumer’s mind so that it gains high priority when the consumer chooses to make a purchasing decision to buy a particular product. Similarly, Wu et al. (2017) correctly state that optimal placement can only occur when consumer viewpoints are considered.
2.0 Product positioning is an essential aspect of marketing.
Most markets are incredibly unpredictable and filled with many competitor items, making it critical for firms to cut through the congestion by using marketing methods that rely primarily on product positioning (Hooley et al., 2012). This unique marketing plan should be distinct from the tactics that have previously been used. According to Aghazadeh (2015), to develop a marketing strategy, three key elements must be identified: segmentation, which defines the consumers that the product is being sold, designed to target, which defines the clients to whom the organization wishes to market its products, and positioning, which explains how the organization intends to sell its products. At the same time, Shaw (2012) believes that to establish a marketing strategy, the essential stages that must be considered, in addition to segmentation, targeting, and positioning, are developing a market profile, competition analysis, offering value, and brand strategy. There is a difference here since the stages provided by Aghazadeh (2015) conceptualise marketing strategy in a nutshell. Still, the steps presented by Shaw (2012) go into the intricacies of establishing a marketing strategy. In a nutshell, the three parts of segmentation, targeting, and positioning may be a considerable difficulty in marketing regardless of whether it is a new or established product. The emphasis here, however, would be on product positioning.
3.0 Product Positioning in Brief
Product positioning is defined by Jobber and Ellis-Chadwick (2012) as the targeted audience in which an organisation will start competing as well as the competitive edge, which indicates the method in which the organisation is keen to start competing. Jobber and Ellis-Chadwick (2012) cite this definition in their article. When the author refers to “product positioning,” they are simply referring to constructing a mental shelf space in the customer’s mind where an organisation and its items will be engraved.
On the other hand, Vukasovic (2009) believes that product positioning is nothing more than the customer’s preconceived notion of a particular brand. The author comes to this conclusion because the ultimate objective of product positioning is to generate equity for the brand, which will, in turn, lead to a buying behaviour that is long term. This fact serves as the foundation for the author’s perspective. The idea of product positioning, in and of itself, is all-encompassing, and it has been recognised as a crucial step in the process of brand creation (Grubor & Milovanov, 2017). The authors believe that product positioning is a comprehensive concept for the following reason. First, there are numerous essential facets affiliated with positional awareness that need to be taken into account while concentrating on the positioning. These critical aspects include segmentation, targeting, and customer behaviour.
After determining which markets to focus on, the next step is positioning the product appropriately in those areas. According to Shaw (2012), the problem of product positioning also draws attention to the word idea. This was said in the context of product positioning. The author believes it is necessary to envision each target segment from the positioning standpoint. This is something that the author believes to be the case. This remark is the author’s way of emphasising that it is necessary to determine the notion of placement that is most appropriate for each target segment. Therefore, developing a few different alternative ideas for positioning would be good, and selecting the concept for positioning that is most suited might play an essential part in the process.
4.0 Strategies
Product positioning has many implications, depending on whether or not a product currently exists on the market or whether or not a company intends to introduce a new product to the market shortly. According to Grubor and Milovanov (2017), product positioning is an all-encompassing concept. Accordingly, any company that is eager to improve its product image should consider all of the associated factors to ensure its product positioning. These factors include segmentation, targeting, and consumer behaviour. When addressing the problem of product positioning, the company needs to do things in an organized and sequential order.
4.1 Segmentation
Segmenting the market would still need another set of procedures, and there are several ways market segmentation might be accomplished. Choosing the right call is the first stage in this process (Goyat, 2011). The market may be segmented according to geographical considerations, which is a strategy that can be used by businesses that either enter a new market or improve their product’s reputation in a particular market. Geographic segmentation is the name given to this specific kind of segmentation. Other forms of segmentation include demographic segmentation, in which the market is divided into subgroups according to factors such as age, gender, or ethnicity (Bhadauria et al., 2014). Psychographic segmentation, also known as lifestyle-based segmentation, divides a market into subgroups of customers based on how consumers spend their time and money, taking into account the consumers’ levels of education, attitudes, and personalities (Kumar & Sarkar, 2008). This form of market segmentation may be used later for an organisation that is introducing a new product. This is when the organization’s development is considerably positioned in the market. On the other hand, Kotler (2015) asserts that it is essential for the market segment to exist already and that it cannot be something the organisation has just made up. If a company is serious about breaking into a new market, that market has to be recognisable and quantifiable. Another criterion would be the need for distinguishability (Jadczakova, 2013). By saying this, the author gives the impression that each section should be unique and have an unusual reaction to various marketing mixtures. For instance, if a particular product elicits the same kind of reaction from both children and adults, this demonstrates that both age groups belong to the same market sector. A prospective market must be consistent and large enough over extended periods of time if it is to be considered viable from a commercial perspective (Ghosh, 2014).
4.2 Targeting
According to marketing principles, there is no absolute need for market segmentation, and it is up to the business to pick the strategy they are interested in implementing (Ernst & Dolnicar, 2018). Even though the authors suggest that market segmentation may not be needed, they are clear that segmentation is essential for the targeting phase of the process. Targeting on its own is comprised of two primary components, namely, the allure of the market niche being pursued and the capabilities of the enterprise (Almeida, 2015). In this passage, the authors suggest that the organisation’s power and the segment’s attractiveness provide an accurate image of the market, enabling the company to determine whether or not to pick a specific element.
5.0 Techniques for Positioning a Product in the Market>
The method that could be chosen to take to position a product will indeed require the requirement to answer numerous questions, such as what is the additional benefit provided by the development, who the processes associated with, who are the established companies in the market, and what use can a consumer consider from the difference provided by the item from its competitors. To position a product effectively, it is necessary to answer these questions (Akpoyomare et al., 2013). Wason and Charlton (2015) have established six distinct strategies for product positioning. These strategies include positioning a product based on its quality or price, a characteristic, an application, an end customer, a product class, or rivals. This may be a problem for a company that is eager to introduce a new product, and it would need doing a comprehensive market study in order to determine the strategy that would be the most practical for positioning the company’s product in the market that it intends to serve. A combination of two strategies, namely attribute and competitors, would be the one that would be the most effective in terms of improving the product’s image and having an effect on the buyers. If you take the incorrect approach, it may be harmful. If the company decides to go with an application-based strategy, the application in question is identical to those offered by other companies selling pretty similar items; as a result, there is a possibility that it will not be successful. In addition, while strategically positioning a product, the company should also ensure that the way its product is placed achieves the appropriate resonance with the client for whom it is meant. At the same time, it must be distinguishable from other companies’ items while exemplifying and supporting the company’s capabilities, strategy, and culture (Wason & Charlton, 2015). The writer’s rationale is that once the product positioning strikes a chord with the consumers, it is simple to develop an immediate connection with them, which in turn influences their purchasing behaviour.
6.0 Conclusion
Product positioning is part of marketing’s larger purpose of capturing consumers’ attention. The tricky issue is that there are many ways to place a product in a target market. Product positioning may improve a product’s image or raise client awareness. This necessitates a product positioning that raises client awareness and imprints the brand and company on their minds. Physical and non-physical variables influence customer perception and attitude toward the goods. Product positioning may benefit the company if done well. In truth, companies have successfully launched new or redesigned goods using various marketing methods. Thus, product positioning may determine product and company success.
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