Positioning is designing a brand's offering and image to occupy a distinctive place in customers' minds. It involves understanding the target customers, the benefits provided, and the value proposition. The value proposition summarizes why customers should choose a brand over competitors and appeals to customers' strongest decision drivers. It helps brands target customers most benefited and maintain an advantage. When customers lose sight of a brand's value proposition, the brand pays a high price. Positioning also examines competitors, products, attributes customers associate with brands, and strategies to differentiate or achieve parity on attributes.
Positioning is designing a brand's offering and image to occupy a distinctive place in customers' minds. It involves understanding the target customers, the benefits provided, and the value proposition. The value proposition summarizes why customers should choose a brand over competitors and appeals to customers' strongest decision drivers. It helps brands target customers most benefited and maintain an advantage. When customers lose sight of a brand's value proposition, the brand pays a high price. Positioning also examines competitors, products, attributes customers associate with brands, and strategies to differentiate or achieve parity on attributes.
Positioning is designing a brand's offering and image to occupy a distinctive place in customers' minds. It involves understanding the target customers, the benefits provided, and the value proposition. The value proposition summarizes why customers should choose a brand over competitors and appeals to customers' strongest decision drivers. It helps brands target customers most benefited and maintain an advantage. When customers lose sight of a brand's value proposition, the brand pays a high price. Positioning also examines competitors, products, attributes customers associate with brands, and strategies to differentiate or achieve parity on attributes.
Positioning is designing a brand's offering and image to occupy a distinctive place in customers' minds. It involves understanding the target customers, the benefits provided, and the value proposition. The value proposition summarizes why customers should choose a brand over competitors and appeals to customers' strongest decision drivers. It helps brands target customers most benefited and maintain an advantage. When customers lose sight of a brand's value proposition, the brand pays a high price. Positioning also examines competitors, products, attributes customers associate with brands, and strategies to differentiate or achieve parity on attributes.
the company’s offering and image to occupy a distinctive place in the minds of the target market Positioning Who are the brand’s target customers? What benefits do they get? What is value proposition? A business or marketing statement that summarizes why a consumer should buy a product or use a service. This statement should convince a potential consumer that particular product or service of the company will add more value or better solve a problem than other similar offerings. Value Proposition Companies use this statement to target customers who will benefit most from using the company's products, and this helps maintain an economic moat. The ideal value proposition is concise and appeals to the customer's strongest decision- making drivers. Companies pay a high price, when customers lose sight of the company's value proposition. Customer Ratings of Competitors Competitive frame of reference Who are the customers? What is the nature of my products? Who are my product competitors and substitutes? The products or set of products with which a brand competes and which function as close substitutes Points of Difference Attributes or benefits (design, quality, performance) consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand Differentiation strategies Product differentiation Employee differentiation Channel differentiation Image differentiation Services differentiation Points of Parity Associations that are not necessarily unique to the brand but may in fact be shared with other brands Category points of parity are associations consumer view as essential to a legitimate and credible offering within a certain product or service category Competitive points of parity are associations designed to negate competitors points of difference. A brand can ‘break even’ in those attributes where competitors are trying to find an advantage and achieve advantages in other areas. Mexican food: Armadillo Grill vs. Baja Burrito Where do I lunch today? The ambiance is poor in both places. The food is a bit better at Armadillo Grill, and the salsa is definitely better. If a bunch of other people agrees with me, and start going to Armadillo Grill instead of Baja Burrito, the nice folks at Baja might have to consider improving their food and salsa so that they are can achieve parity with Armadillo Grill. The Baja folks have a point of difference against Armadillo Grill– they are right across the street from NC State campus, in walking distance from the dorms. Their location is a great point of difference, but they could probably be doing even better business if they achieved parity with Armadillo Grill on their salsa.