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Marketing Management-1

Product Positioning

MM 2016/Product Positioning

Product Positioning
The decisions and activities that create and
maintain a certain concept of the firms
products in customers minds.
It reflects how one product is distinguished
from products from competitors.

MM 2016/Product Positioning

Positioning
Positioning is the perception or the image
that customers have of the company and its
products
Responsibility of the company to manage
its customers perceptions
Every fact and act of the company shapes
customer perceptions directly or indirectly
Company should evaluate every activity in
terms of its role in creating positive
customer perceptions
MM 2016/Product Positioning

Positioning
Communicating the differential
advantage to customers

Product differentiation
Promotional differentiation
Distribution differentiation
Price differentiation

MM 2016/Product Positioning

Positioning
In the Services Context,
three more Ps can be used for
differentiation
People
Process
Physical Evidences

MM 2016/Product Positioning

CRITERIA FOR SUCCESSFUL


POSITIONING

Clarity
Consistency
Credibility
Competitiveness

MM 2016/Product Positioning

COMMON POSITIONING STRATEGIES IN


THE CONSUMER DURABLE SECTOR
Benefit or use of positioning:
The positioning strategies adopted by
consumer durable companies depend a
lot on usage, economy and corporate
identity of which a well established
brand surely projects the identity of the
product in terms of which corporate
house the product is from

MM 2016/Product Positioning

COMMON POSITIONING STRATEGIES IN


THE CONSUMER DURABLE SECTOR
Competitor related positioning:
This is the strategy of placing a firms
brand next to the leader in the market
and trying to uproot it on a specific
tangible variable

Lifestyle positioning:
A firm could even position the brand as a
lifestyle contemporary or futuristic .
MM 2016/Product Positioning

COMMON POSITIONING STRATEGIES IN


THE CONSUMER DURABLE SECTOR
Positioning by Corporate Identity:
This type of positing is seen very much
with consumer durables when a tried
and trusted corporate identity

MM 2016/Product Positioning

COMMON POSITIONING STRATEGIES IN


THE CONSUMER DURABLE SECTOR
Surrogate positioning:
Here the product cant be positioned
differently on the basis of attributes but
differentiated by positioning them on
the surrogates for the attributes.
The two most popular surrogates are nonpareil (our
product is simply the best available, no features or
benefits cited) and parentage (our product is good
because it was designed by the designers or producers
of product X)

MM 2016/Product Positioning

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Sine qua non of Positioning


o
o
o
o
o
o
o

Precision,
Defined Target audience,
Differentiate,
Reflect organizational values,
Address customer needs,
Specific,
Ability to deliver the promise/s
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REPOSITIONING
Same product and target market,
change
in the image of the product
Product repositioning
Intangible repositioning
Tangible repositioning
Chandrika Soap from skin cure to skin
care
MM 2016/Product Positioning

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Four Major Positioning Errors


1. Under positioning
consumers have only a vague idea of the
brand.
2. Over positioning
consumers have too narrow a view of the
brand.
3. Confused Positioning
consumers confused about the brand due to
frequent changes or too many claims.
4. Doubtful Positioning
consumers dont believe the brands claims
MM 2016/Product Positioning

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Product Space Positioning for Bar Soaps


High moisturizing
Dove

Lux
Nondeodorant

Deodorant
Lifebuoy

Low
moisturizing
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Product Space Positioning for Tooth Paste

High/Low:

MM 2016/Product Positioning

Whitening
Foaming
Mouth Freshening
Medicinal 15

Demand Forecasting

MM 2016/Product Positioning

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DEMAND FORECASTING AND


ESTIMATING SALES OF A PRODUCT
A sales forecast is an estimate of probable
sales for one companys brand of the product
during a stated time period in a specific market
segment and assuming the use of a
predetermined marketing plan.
Planning and scheduling production
Acquiring inputs
Making provision for finances
Formulating pricing strategy
Planning advertisement

MM 2016/Product Positioning

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DEMAND FORECASTING AND


ESTIMATING SALES OF A PRODUCT
A sales forecast
- Is based on a specific marketing plan.

Can be expressed in Rupees or product units.


Normally prepared after market potential and sales
potential have been estimated.
Normally made on annual basis.
Marketing goals and broad strategies must be
established before a sales forecast is made.
A key controlling factor in all operational planning
throughout the company.
MM 2016/Product Positioning

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TWO BASIC PROCEDURES USED TO


FORECAST SALES ..1
A top-down approach in which management:
Develops a forecast of economic conditions and
industry trends.
Determines the market potential for a product.
Determines the sales potential for the product.
Measures the share of this market the firm is
currently getting or plans to capture.
Forecasts the firms sales of the product.

MM 2016/Product Positioning

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TWO BASIC PROCEDURES USED TO


FORECAST SALES ..2
A bottom-up approach in which management:
Generates estimates of future demand from
customers or the companys salespeople.
Combines the estimates to get a total
forecast.
Adjusts the forecast based on managerial
insights into the industry, competition, and
general economic trends.

MM 2016/Product Positioning

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Demand Forecasting Techniques

Market-factor analysis
Demand for a product is assumed to be
related to the behavior of certain sales
activity.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Survey of buyer intentions
A sample of current or potential customers
are asked how much of a particular
product they would buy at a given price
during a specified future time period.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Test marketing
A firm markets its product in a limited
geographic area, measures sales, and then
projects the companys sales over a larger
area.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Past sales and trend analysis
A flat percentage increase is applied to
the volume achieved last year or to the
average volume of the past few years.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Sales-force composite

A bottom-up method consisting of


collecting estimates of sales for the future
period from all salespeople.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Executive judgment
Obtaining opinions regarding future sales
volume from one or more executives.

MM 2016/Product Positioning

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Demand Forecasting Techniques


Delphi Method
Expert opinions collected independently and
analyzed

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Survey Methods

Consumer Survey:
Direct Interview
Complete
Enumeratio
n

Sample
Survey

Sample
Survey
Method

Opinion Poll
Methods

EndUse
method

Expert
opinion

Delphi
Method

MM 2016/Product Positioning

Market Studies &


Experiments

Market
Test

Laboratory
Tests

28

Statistical Methods

Trend
Projection

Barometri
c Methods

Lead-Lag
indicators

Econometri
c Method

Diffusion
indices

Regression
Methods
Simple:
Bivariate

Graphical
Method

Trend fitting or least


Square method

Simultaneo
us
Equations

Multivariate

Box- Jenkins
Method

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Demand Forecasting

MM 2016/Product Positioning

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The External Environment Affects Marketing Opportunities

Cultural
Culturaland
andsocial
social

Economic
Economic
Dimensions
of the
External
Environment
Technology
Technology

Political
& Legal
Environmental
Environmental
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