Chapter 4

Let The Market Know You

Better
 LET THE MARKET KNOW YOU BETTER
Seven Ps:
Positioning
Product
In order for the enterprise to engage competitors and
gain customers, you need the Summarized strategy
Packaging
called the Seven Ps.
Place
People
Promotion
Price
I. POSITIONING

Positioning has three overlapping

objectives or perspectives.
A. ENTERPRISE pERSPECTIVE

 The enterprise reviews the market

environment and decides to position itself
with products to be addressed to the needs
of that chosen target.
 b. cOMPETITIVE pERSPECTIVE

The enterprise has to differentiate and

distinguish itself from its competitors.
C. CUSTOMERS’ pERSPECTIVE

Positioning
is the way the customers
perceive the enterprise and its
products and services in their minds
PERSPECTIVES
Enterprise Competitive
MORE
DEFINED

Customers

The Stronger the overlap is in these three

perspectives, the more defined the positioning of
an enterprise is.
 THE LATITUDE AND LONGITUDE
LONGTITUDE

L
A
T
The competitive
I landscape of the enterprise, relative to
the market,
T can be clearly mapped out by laying out
both Duthe latitudinal and longitudinal market dimensions.
E
 THE LATITUDE L
A
T
I
T
u
D
E

This lays out what is important to the different

customer segments from their points of view.

Definitions: Customer segmentation is the process of

dividing customers into groups based on common
characteristics so companies can market to each
group effectively and appropriately.
 THE LONGITUDE LONGTITUDE
Dictionary: A niche market is the subset of
the market on which a specific
product is focused. The market niche
defines the product features aimed at
satisfying specific market needs, as
well as the price range, production
quality and the demographics that it is
intended to target.

This represents the product features and attributes of

competitors in the marketplace. A few competitors will
focus on niche customers and most will offer product
features which major customer segments would like to
buy.
 THE MVP
 The
What Main
is the ValueValue Proposition
Proposition?
Value proposition refers to a business or
marketing statement that a company uses
to summarize why a consumer should buy a
product or use a service. This statement
convinces a potential consumer that one
particular product or service will add more
value or better solve a problem than other
similar offerings will.
THE MVP
 In determining the MVP;
 the enterprise must assess its products from
the customers’ viewpoint.
 the other six Ps must be evaluated if they
strengthen or support and reinforce each other
complement
(an object or
 the price
substance), might be out of line with the
especially A promotional
promotion
with additional message, or the people chosen
message can come in
A marketing strategy
might be wrong message carriers.
material. many forms, such as a
developed by a
television or magazine
business to promote a
advertisement, or a
product or service.
slogan on a product
package.
 THE MVP
 Some enterprises have discovered that their
intended customers are not the ones buying their
products but some other segments. Their choice,
then, is to either reposition their products toward the
unintended customers or to reinvent their products
to fit their intended customers.
 BRANDING

 Toestablish the positioning of its various products in

the market place, the enterprise endeavours to
build the brand of each product.
BRANDING
 Its purposes:
 1. To differentiate the product from other
products.

 2. To avoid commodity image for the

product.

 3. To fill a space in the customer’s mind that

would prevent other products from
occupying the same space.
II. PRODUCT