INDIVIDUAL ASSIGNMENT SUBMISSION (PGID-72015026)

POSITIONING – THE ESSENCE OF MARKETING STRATEGY

Choosing how to position a product or service is one of the most important decisions a marketer
makes. A positioning statement indicates how you want customers to think about your
product/service/brand
relative to competitors

Elements of a Positioning Statement

a widely communicated and widely accepted positioning statement keeps everyone inside the
company aligned with respect to the focal product or service.

Target market
The target market decision should be made prior to developing a positioning statement

Frame of reference
The frame of reference reflects how you define the market in which your product
competes.

Point of difference
Within the frame of reference, your product must be different from competitors on
one or more dimensions that are meaningful to customers in your target market.

Reason to believe
Customers have to believe that your brand can deliver the point of difference.

Vetting the Positioning Statement

The following six criteria are useful for vetting your positioning choice:
1. Relevance
2. Clarity
3. Credibility
4. Uniqueness
5. Attainability
6. Sustainability

Using Perceptual Maps in Positioning

There are many ways to gather data to generate a perceptual map.

1. Attribute Ratings
2. Attribute Associations
3. Similarity Judgments

Perceptual maps are used in many ways in marketing: to understand the competitive landscape
(market structure), to identify segmentation or targeting opportunities, to understand how segments of
consumers differ, to identify new product opportunities, to reveal areas for improving existing
products or the perceptions of those products.