The document discusses branding and marketing strategies at different stages of the product lifecycle. It defines positioning and differentiation strategies. It explains that in the introduction stage, marketing focuses on early adopters through high prices and promotions or low prices and promotions. In the growth stage, sales rapidly increase as more consumers buy the product, competitors enter the market, and prices may fall slightly while promotion is maintained.
The document contains 10 multiple choice questions about key concepts from Chapter 10 on crafting brand positioning. The questions cover topics such as points of difference, competitive advantage, differentiation strategies, category membership, product life cycles, and examples of product and personnel differentiation.
This document discusses various strategies for building and managing strong brands. It covers managing brand equity through brand reinforcement, revitalization, and crisis management. It also discusses developing and communicating positioning strategies by determining competitive frames of reference, points of parity, and points of difference. Finally, it reviews product lifecycle strategies and different patterns that exist, including strategies for styles, fashions, and fads. The overall aim is to provide guidance on analyzing competitors and developing effective competitive strategies throughout a product's lifecycle.
The document discusses the product life cycle, which outlines the typical stages a product goes through from introduction to decline. It identifies five key stages: research, introduction, growth, maturity, and decline. Each stage presents different challenges and opportunities for marketing, financing, manufacturing and more. Examples are provided to illustrate common products at each phase of the life cycle.
Product positioning refers to how a company presents and markets a product to differentiate it from competitors. It involves identifying key attributes that target customers value and want to be associated with. For example, Toyota positions itself on economy, Mercedes on luxury, and Porsche/BMW on performance. Proper positioning helps companies meet customer expectations, build loyalty, design effective promotions, attract different customer types, and strengthen their competitive position in the market. Regularly evaluating and adjusting positioning keeps the company's messaging aligned with customer needs and competitive offerings.
Unique luggages has faced increased competition after decades as the leader in the moulded luggage market. To defend its position, it has implemented strategies including continuing product augmentation, proliferating low-priced models, trade pushes and sales promotions, and expansion and diversification. While these strategies help, the company could also consider market integration, test markets, a total market strategy, first entry markets, product repositioning, and product design strategies to better adapt to changes. Suggestions include setting up a creative team, more advertising/research, recruiting talent, experimenting, and improving branding.
Culinary marketing involves using food memories and experiences to evoke passion in customers similarly to sports, music, or other entertainment. Marketing aims to draw in and maintain customer relationships through various actions and networking. A marketing plan outlines a company's advertising and marketing efforts for a period, including target markets, marketing mix, budgets, goals, and performance monitoring. It identifies customer needs and how the company will satisfy them profitably. A product mix refers to all product lines offered and involves considerations of width, length, depth, consistency, and linkages between products. The product life cycle model outlines four stages - introduction, growth, maturity, and decline - that products typically progress through over time. Product advertisement promotes products through various communication channels
Brand positioning aims to make a brand distinct in customers' minds relative to competitors. Companies emphasize distinguishing features or create a suitable image through advertising. Once positioned, it is difficult to reposition without losing credibility. Successful positioning requires elements like uniqueness, importance to customers, being communicable, understandable, and sustainable through marketing efforts. Companies employ strategies like emphasizing attributes, benefits, applications, user groups, comparisons, or different categories. Brand alliances allow two brands to cooperate, helping penetrate new markets through industrial cooperation or joint promotions. Proper positioning can help brands achieve market success through brand association with leaders or differentiation with new attributes.
The document discusses branding and marketing strategies at different stages of the product lifecycle. It defines positioning and differentiation strategies. It explains that in the introduction stage, marketing focuses on early adopters through high prices and promotions or low prices and promotions. In the growth stage, sales rapidly increase as more consumers buy the product, competitors enter the market, and prices may fall slightly while promotion is maintained.
The document contains 10 multiple choice questions about key concepts from Chapter 10 on crafting brand positioning. The questions cover topics such as points of difference, competitive advantage, differentiation strategies, category membership, product life cycles, and examples of product and personnel differentiation.
This document discusses various strategies for building and managing strong brands. It covers managing brand equity through brand reinforcement, revitalization, and crisis management. It also discusses developing and communicating positioning strategies by determining competitive frames of reference, points of parity, and points of difference. Finally, it reviews product lifecycle strategies and different patterns that exist, including strategies for styles, fashions, and fads. The overall aim is to provide guidance on analyzing competitors and developing effective competitive strategies throughout a product's lifecycle.
The document discusses the product life cycle, which outlines the typical stages a product goes through from introduction to decline. It identifies five key stages: research, introduction, growth, maturity, and decline. Each stage presents different challenges and opportunities for marketing, financing, manufacturing and more. Examples are provided to illustrate common products at each phase of the life cycle.
Product positioning refers to how a company presents and markets a product to differentiate it from competitors. It involves identifying key attributes that target customers value and want to be associated with. For example, Toyota positions itself on economy, Mercedes on luxury, and Porsche/BMW on performance. Proper positioning helps companies meet customer expectations, build loyalty, design effective promotions, attract different customer types, and strengthen their competitive position in the market. Regularly evaluating and adjusting positioning keeps the company's messaging aligned with customer needs and competitive offerings.
Unique luggages has faced increased competition after decades as the leader in the moulded luggage market. To defend its position, it has implemented strategies including continuing product augmentation, proliferating low-priced models, trade pushes and sales promotions, and expansion and diversification. While these strategies help, the company could also consider market integration, test markets, a total market strategy, first entry markets, product repositioning, and product design strategies to better adapt to changes. Suggestions include setting up a creative team, more advertising/research, recruiting talent, experimenting, and improving branding.
Culinary marketing involves using food memories and experiences to evoke passion in customers similarly to sports, music, or other entertainment. Marketing aims to draw in and maintain customer relationships through various actions and networking. A marketing plan outlines a company's advertising and marketing efforts for a period, including target markets, marketing mix, budgets, goals, and performance monitoring. It identifies customer needs and how the company will satisfy them profitably. A product mix refers to all product lines offered and involves considerations of width, length, depth, consistency, and linkages between products. The product life cycle model outlines four stages - introduction, growth, maturity, and decline - that products typically progress through over time. Product advertisement promotes products through various communication channels
Brand positioning aims to make a brand distinct in customers' minds relative to competitors. Companies emphasize distinguishing features or create a suitable image through advertising. Once positioned, it is difficult to reposition without losing credibility. Successful positioning requires elements like uniqueness, importance to customers, being communicable, understandable, and sustainable through marketing efforts. Companies employ strategies like emphasizing attributes, benefits, applications, user groups, comparisons, or different categories. Brand alliances allow two brands to cooperate, helping penetrate new markets through industrial cooperation or joint promotions. Proper positioning can help brands achieve market success through brand association with leaders or differentiation with new attributes.
This document discusses strategies for building strong brands. It covers managing brand equity through reinforcement or revitalization, and addresses brand crises. It also discusses developing and communicating positioning strategies by determining competitive frames of reference and identifying points of parity and differentiation. Further, it outlines product differentiation, personnel differentiation, channel differentiation, and image differentiation strategies. Finally, it reviews product lifecycle stages and patterns, and discusses styles, fashions, and fads.
This document provides an overview of how to effectively position a brand. It discusses that positioning is creating a perception or image in the consumer's mind to make a brand appear different and better than competitors. Key aspects of positioning include developing a sustainable competitive advantage by managing consumer perceptions through strategic activities rather than tactics. Effective positioning strategies discussed include focusing on benefits, problem-solving, competition, corporate reputation, target users, causing emotions, value, and personality. Combining multiple positioning strategies is most effective. Proper positioning requires understanding target audiences, competitors, and clearly communicating points of difference and reasons to believe the brand's claims.
Market segmentation involves dividing the market into subgroups that have similar needs. There are four types of customer loyalty segments: hard-core, split loyals, shifting loyals, and switchers. Brand positioning is defining a brand's place relative to competitors in consumers' minds based on points of parity (shared attributes) and points of difference (unique attributes). Effective positioning requires relevance, clarity, distinctiveness, coherence, commitment, courage, and patience. Common positioning strategies include leveraging existing brands, focusing on product features/benefits, price-quality, competitive differentiation, and targeting specific customer categories. Positioning errors to avoid are under positioning, over positioning, confused positioning, and doubtful positioning.
Marketers use positioning to distinguish their products from competitors in the marketplace. Positioning involves developing a marketing mix to influence how target customers perceive a brand. The objective is to position products to appeal to the target market's desires and perceptions, while using positioning to gain an advantage over competitors. Common bases for positioning include highlighting product attributes, associating with price or quality, unique uses, type of user, or competitive differences. Positioning strategies outline how a company will present its product and compete through influencing consumer perceptions, competitors, and responding to business environment changes using the marketing mix elements of product, price, place, and promotion.
The document discusses the product life cycle, which comprises four stages: introduction, growth, maturity, and decline. It provides details about each stage, including characteristics of the product, sales trends, costs, competition levels, and implications for the marketing mix of product, price, placement, and promotion. The life cycle concept is useful for managers to forecast sales and plan marketing strategies as a product progresses through different stages over time.
Product strategy is like a roadmap, and like a roadmap it’s useful only when you know where you are and where you want to go.The Service Strategy provides guidance on how to design, develop, and implement service management not only as an organizational capability but also as a strategic asset.
This document discusses product and brand management. It defines key concepts like product, branding, product mix, product lines, packaging, and brand positioning. It also discusses brand equity and best practices for brand management, including focusing on customer experience, nurturing brand advocates, and using social media to engage customers. The overall content provides an overview of developing, managing, and strengthening products and their associated brands.
This document discusses different product positioning strategies including using product characteristics or customer benefits, the price-quality approach, use or application approach, product-user approach, product-class approach, cultural symbol approach, competitor approach, brand positioning strategy, and corporate positioning strategy. Some key points are that positioning can be done based on physical or pseudo-physical product characteristics, benefits, price vs quality, intended user, cultural symbols, or in comparison to competitors. The goal is to conceptually position the product or company in the target consumer's mind.
This is the ppt translation of the third part of 25 keys to sales & marketing, an audio portable MBA course, which has been developed by New York Times publishing, with the contribution of some of the best known business academicians and practitioners of the contemporary world. This is only a reproduced graphical version of the same with no commercial motive. It has been developed for better self learning and for assistance to the large community of several business practitioners & students, who are in constant pursuit for quality stuff on-line.
Product positioning refers to activities undertaken by marketers to create and maintain value for their brand in customers' minds compared to competitors. Successful positioning has clarity on value proposition, consistency in quality and performance, and credibility/trustworthiness. For market leaders, reinforcing their first-mover advantage or introducing new brands to changing needs works. For followers, identifying unoccupied positions allows being first in customers' minds. Repositioning includes changing a product's image, modifying it for changing customer needs, targeting different market segments with the same product, or changing both product and target market. Pitfalls include under positioning by diluting ideas, over positioning by promoting an unrealistic image, confused positioning by changing strategies too much, doubtful positioning by promoting
The document discusses market positioning in marketing. It defines positioning as creating a distinct image for a brand or product in customers' minds compared to competitors. There are three types of positioning: functional based on benefits, symbolic based on brand image/identity, and experiential based on customer experiences. Key elements of a positioning strategy include product features, benefits, use categories, occasions, and competitive comparisons. Common pitfalls are under positioning with insufficient information, over positioning with a narrow image, confused positioning from frequent changes, and doubtful positioning if claims don't match price or features. Benefits of effective positioning include a strong competitive position, improved sales by defining the target market, and more effective marketing decisions and customer connections.
Markman visual model chap 10 crafting the brand positioningRalph Raymund Pinon
This document discusses crafting an effective brand positioning strategy. It begins by explaining how firms can choose and communicate a positioning by developing a competitive frame of reference looking at points of difference and parity. It then discusses differentiation strategies and how positioning and marketing strategies should change across the product lifecycle stages and with market evolution. The key tasks covered are understanding effective positioning, differentiation, adapting to the product lifecycle, and implications of market changes.
This document discusses branding and positioning strategies. It defines what a brand is and lists common brand elements. It then defines positioning as designing a company's offering and image to have a distinctive place in the target market's mind. The document outlines various positioning strategies such as quality, value/price, benefit, demographic, competitor, and cultural symbol positioning. It provides examples of each and discusses how to identify differentiating factors and communicate the brand's values. Overall, the document provides an overview of common branding and positioning concepts, tactics, and best practices.
Positioning involves placing a brand in customers' minds in a way that occupies a distinctive place in the target market. It is defined as what is done to the mind of the customer rather than what is done to the product. Effective positioning differentiates a brand in a way that delivers a valued, distinctive, superior, preemptive, and affordable benefit to buyers. Principles of positioning include being first to market or creating a new category. Positioning errors can occur if a brand is under positioned, over positioned, confused, or doubtful in customers' minds. Strategies include positioning by attributes, benefits, use, competitors, product category, quality, price, or target market. Perceptual mapping involves understanding customers' ideal product
Brand management provides benefits to both buyers and sellers. For buyers, brands help reduce purchase risk and time by aiding product identification and quality evaluation. For sellers, brands help differentiate products, create brand loyalty to stabilize market share, and potentially allow premium pricing. Brand equity is the value provided by brand recognition and impressions. It is developed through all customer touchpoints and communications over time. Managing brand equity helps drive revenue growth and competitive advantage. Effective brand positioning involves communicating distinct attributes to occupy a unique place in customers' minds.
This document discusses various strategies for positioning a brand, including:
- Quality positioning - Focusing on a specific area of quality or expertise to differentiate from competitors.
- Value/price positioning - Emphasizing either a high-end or value-priced offering while ensuring quality.
- Benefit positioning - Highlighting the unique benefits of a product or service to appeal to consumer needs.
- Demographic positioning - Targeting brands towards specific age groups or genders.
- Competitor positioning - Establishing superiority by directly comparing to other similar brands.
- Cultural symbol positioning - Leveraging cultural icons to associate the brand with certain attributes.
This document discusses various strategies for positioning a brand, including:
- Quality positioning - Focusing on a specific area of quality or expertise to differentiate from competitors.
- Value/price positioning - Emphasizing either a high-end or value-priced offering while ensuring quality.
- Benefit positioning - Highlighting the unique benefits of a product or service to appeal to consumer needs.
- Demographic positioning - Targeting brands towards specific age groups or genders.
- Competitor positioning - Establishing superiority by directly comparing to other similar brands.
- Cultural symbol positioning - Leveraging cultural icons to associate a brand with certain values.
The document discusses various methods of positioning products and brands. It defines positioning as how potential buyers perceive a product. There are several elements to consider for positioning including the product itself, the company that produces it, competitors, and consumers. Positioning methods depend on the type of product, whether it's an impulse good, daily use item, specialty item, or consumer durable. Examples of positioning techniques include associating a product with specific attributes, price/quality, use or application, product class, user, competitor, or cultural symbols.
There are several strategies for positioning products:
1) Using product characteristics or customer benefits to segment based on features or advantages.
2) The price-quality approach of positioning some products as premium to justify higher prices.
3) The use or applications approach of positioning based on a product's intended use case.
4) Positioning based on target users or customer groups.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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This document discusses strategies for building strong brands. It covers managing brand equity through reinforcement or revitalization, and addresses brand crises. It also discusses developing and communicating positioning strategies by determining competitive frames of reference and identifying points of parity and differentiation. Further, it outlines product differentiation, personnel differentiation, channel differentiation, and image differentiation strategies. Finally, it reviews product lifecycle stages and patterns, and discusses styles, fashions, and fads.
This document provides an overview of how to effectively position a brand. It discusses that positioning is creating a perception or image in the consumer's mind to make a brand appear different and better than competitors. Key aspects of positioning include developing a sustainable competitive advantage by managing consumer perceptions through strategic activities rather than tactics. Effective positioning strategies discussed include focusing on benefits, problem-solving, competition, corporate reputation, target users, causing emotions, value, and personality. Combining multiple positioning strategies is most effective. Proper positioning requires understanding target audiences, competitors, and clearly communicating points of difference and reasons to believe the brand's claims.
Market segmentation involves dividing the market into subgroups that have similar needs. There are four types of customer loyalty segments: hard-core, split loyals, shifting loyals, and switchers. Brand positioning is defining a brand's place relative to competitors in consumers' minds based on points of parity (shared attributes) and points of difference (unique attributes). Effective positioning requires relevance, clarity, distinctiveness, coherence, commitment, courage, and patience. Common positioning strategies include leveraging existing brands, focusing on product features/benefits, price-quality, competitive differentiation, and targeting specific customer categories. Positioning errors to avoid are under positioning, over positioning, confused positioning, and doubtful positioning.
Marketers use positioning to distinguish their products from competitors in the marketplace. Positioning involves developing a marketing mix to influence how target customers perceive a brand. The objective is to position products to appeal to the target market's desires and perceptions, while using positioning to gain an advantage over competitors. Common bases for positioning include highlighting product attributes, associating with price or quality, unique uses, type of user, or competitive differences. Positioning strategies outline how a company will present its product and compete through influencing consumer perceptions, competitors, and responding to business environment changes using the marketing mix elements of product, price, place, and promotion.
The document discusses the product life cycle, which comprises four stages: introduction, growth, maturity, and decline. It provides details about each stage, including characteristics of the product, sales trends, costs, competition levels, and implications for the marketing mix of product, price, placement, and promotion. The life cycle concept is useful for managers to forecast sales and plan marketing strategies as a product progresses through different stages over time.
Product strategy is like a roadmap, and like a roadmap it’s useful only when you know where you are and where you want to go.The Service Strategy provides guidance on how to design, develop, and implement service management not only as an organizational capability but also as a strategic asset.
This document discusses product and brand management. It defines key concepts like product, branding, product mix, product lines, packaging, and brand positioning. It also discusses brand equity and best practices for brand management, including focusing on customer experience, nurturing brand advocates, and using social media to engage customers. The overall content provides an overview of developing, managing, and strengthening products and their associated brands.
This document discusses different product positioning strategies including using product characteristics or customer benefits, the price-quality approach, use or application approach, product-user approach, product-class approach, cultural symbol approach, competitor approach, brand positioning strategy, and corporate positioning strategy. Some key points are that positioning can be done based on physical or pseudo-physical product characteristics, benefits, price vs quality, intended user, cultural symbols, or in comparison to competitors. The goal is to conceptually position the product or company in the target consumer's mind.
This is the ppt translation of the third part of 25 keys to sales & marketing, an audio portable MBA course, which has been developed by New York Times publishing, with the contribution of some of the best known business academicians and practitioners of the contemporary world. This is only a reproduced graphical version of the same with no commercial motive. It has been developed for better self learning and for assistance to the large community of several business practitioners & students, who are in constant pursuit for quality stuff on-line.
Product positioning refers to activities undertaken by marketers to create and maintain value for their brand in customers' minds compared to competitors. Successful positioning has clarity on value proposition, consistency in quality and performance, and credibility/trustworthiness. For market leaders, reinforcing their first-mover advantage or introducing new brands to changing needs works. For followers, identifying unoccupied positions allows being first in customers' minds. Repositioning includes changing a product's image, modifying it for changing customer needs, targeting different market segments with the same product, or changing both product and target market. Pitfalls include under positioning by diluting ideas, over positioning by promoting an unrealistic image, confused positioning by changing strategies too much, doubtful positioning by promoting
The document discusses market positioning in marketing. It defines positioning as creating a distinct image for a brand or product in customers' minds compared to competitors. There are three types of positioning: functional based on benefits, symbolic based on brand image/identity, and experiential based on customer experiences. Key elements of a positioning strategy include product features, benefits, use categories, occasions, and competitive comparisons. Common pitfalls are under positioning with insufficient information, over positioning with a narrow image, confused positioning from frequent changes, and doubtful positioning if claims don't match price or features. Benefits of effective positioning include a strong competitive position, improved sales by defining the target market, and more effective marketing decisions and customer connections.
Markman visual model chap 10 crafting the brand positioningRalph Raymund Pinon
This document discusses crafting an effective brand positioning strategy. It begins by explaining how firms can choose and communicate a positioning by developing a competitive frame of reference looking at points of difference and parity. It then discusses differentiation strategies and how positioning and marketing strategies should change across the product lifecycle stages and with market evolution. The key tasks covered are understanding effective positioning, differentiation, adapting to the product lifecycle, and implications of market changes.
This document discusses branding and positioning strategies. It defines what a brand is and lists common brand elements. It then defines positioning as designing a company's offering and image to have a distinctive place in the target market's mind. The document outlines various positioning strategies such as quality, value/price, benefit, demographic, competitor, and cultural symbol positioning. It provides examples of each and discusses how to identify differentiating factors and communicate the brand's values. Overall, the document provides an overview of common branding and positioning concepts, tactics, and best practices.
Positioning involves placing a brand in customers' minds in a way that occupies a distinctive place in the target market. It is defined as what is done to the mind of the customer rather than what is done to the product. Effective positioning differentiates a brand in a way that delivers a valued, distinctive, superior, preemptive, and affordable benefit to buyers. Principles of positioning include being first to market or creating a new category. Positioning errors can occur if a brand is under positioned, over positioned, confused, or doubtful in customers' minds. Strategies include positioning by attributes, benefits, use, competitors, product category, quality, price, or target market. Perceptual mapping involves understanding customers' ideal product
Brand management provides benefits to both buyers and sellers. For buyers, brands help reduce purchase risk and time by aiding product identification and quality evaluation. For sellers, brands help differentiate products, create brand loyalty to stabilize market share, and potentially allow premium pricing. Brand equity is the value provided by brand recognition and impressions. It is developed through all customer touchpoints and communications over time. Managing brand equity helps drive revenue growth and competitive advantage. Effective brand positioning involves communicating distinct attributes to occupy a unique place in customers' minds.
This document discusses various strategies for positioning a brand, including:
- Quality positioning - Focusing on a specific area of quality or expertise to differentiate from competitors.
- Value/price positioning - Emphasizing either a high-end or value-priced offering while ensuring quality.
- Benefit positioning - Highlighting the unique benefits of a product or service to appeal to consumer needs.
- Demographic positioning - Targeting brands towards specific age groups or genders.
- Competitor positioning - Establishing superiority by directly comparing to other similar brands.
- Cultural symbol positioning - Leveraging cultural icons to associate the brand with certain attributes.
This document discusses various strategies for positioning a brand, including:
- Quality positioning - Focusing on a specific area of quality or expertise to differentiate from competitors.
- Value/price positioning - Emphasizing either a high-end or value-priced offering while ensuring quality.
- Benefit positioning - Highlighting the unique benefits of a product or service to appeal to consumer needs.
- Demographic positioning - Targeting brands towards specific age groups or genders.
- Competitor positioning - Establishing superiority by directly comparing to other similar brands.
- Cultural symbol positioning - Leveraging cultural icons to associate a brand with certain values.
The document discusses various methods of positioning products and brands. It defines positioning as how potential buyers perceive a product. There are several elements to consider for positioning including the product itself, the company that produces it, competitors, and consumers. Positioning methods depend on the type of product, whether it's an impulse good, daily use item, specialty item, or consumer durable. Examples of positioning techniques include associating a product with specific attributes, price/quality, use or application, product class, user, competitor, or cultural symbols.
There are several strategies for positioning products:
1) Using product characteristics or customer benefits to segment based on features or advantages.
2) The price-quality approach of positioning some products as premium to justify higher prices.
3) The use or applications approach of positioning based on a product's intended use case.
4) Positioning based on target users or customer groups.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
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1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
2. YOU WILL LEARN ABOUT
POSITIONING THE MARKET OFFERING THROUGH PLC
DEVELOPING AND COMMUNICATING A POSITIONING STRATEGY
PLC MARKETING STRATEGIES
3. POSITIONING THE MARKET OFFERING THROUGH PLC
Market positioning:
In marketing, positioning is the process by which marketers try to create an
image or identity in the minds of their target market for its product, brand, or
organization relative to competing products. Its objective is to occupy a clear,
unique, and advantageous position in the consumer's mind.
4. Re-positioning involves changing the identity of a product, relative to the identity of
competing products.
De-positioning involves attempting to change the identity of competing products,
relative to the identity of your own product. It will have strong sales, and it may
become the go-to brand for people who need that particular product. Poor
positioning, on the other hand, can lead to bad sales and a dubious reputation. A
number of things are involved in market positioning, with entire firms specializing in
this activity and working with clients to position their products effectively.
5. Positioning in the introduction stage:
When a company’s product is in the introduction stage, so the company must do
strong advertisements to create awareness in the mind of people about
company’s product and services. It is fact because companies offer new
products/services how we know about them? The answer of this question is that
we know it throw electronic media and paper media.
Positioning the market offering through product life cycle
6. Positioning in the stage of growth:
A stage where companies product/services are becoming popular among the
target market and there exists an opportunity to capture more market shares.
How companies capture more market shares? Simply by increasing their
distribution channels, distribute your products in those areas where it is
unknown. May be the customers want to purchase/buy your products/services
but they are not aware of it.
7. During this stage, the firm uses several strategies to sustain rapid market growth
It improves product quality and add new product feature and improved styling
It adds new models, product of different sizes, flavors
It enters new market segments
It increases its distribution coverage and enters new distribution channels
It lower prices to attract the next layer of price-sensitive buyers
8. Positioning in the maturity stage:
A stage where each and every companies wish to be in. in this stage companies don’t need
to expend a lot on advertisements because what they were trying to capture they have
captured so now in this stage they are supposed to retain their captured customers. They
can do this by modification in their products or using a new market segments.
9. Market modification:
The company might try to expand the market for its mature brand. For example
Johnson and Johnson successfully promoted its baby shampoo to adult users.
Volume can also be increased by convincing current users to increase their
brand usage For example: Safe Guard and life boy Gold convincing their
users to wash hands frequently.
10. Product modification:
Managers also try to increase sales by modifying the product’s characteristics through
quality improvement, feature improvement, or style improvement.
11. Positioning in the declining stage:
Maintaining the product in hope that competitor will exit, reduce cost and find new
uses for the product.
Harvesting
Divesting
12. Positioning strategies can be conceived and developed in a variety of ways. It can be
derived from the object attributes, competition, application, the types of consumers
involved, or the characteristics of the product class. All these attributes represent a different
approach (differentiation concept) in developing positioning strategies, even though all of
them have the common objective of projecting a favorable image in the minds of the
consumers or audience.
DEVELOPING AND COMMUNICATING A MARKET
POSITIONING STRATEGY
13. THERE ARE SEVEN APPROACHES TO POSITIONING STRATEGIES
(1) Using Product characteristics or Customer Benefits as a positioning strategy.
This strategy basically focuses upon the characteristics of the product or customer benefits.
For example if I say imported items it basically tells or illustrates a variety of product
characteristics such as durability, economy or reliability etc. Let’s take an example of
motorbikes some are emphasizing on fuel economy, some on power, looks and others stress
on their durability. Hero Cycles Ltd. positions first, emphasizing durability and style for its
cycle.
14. Con…
At time even you would have noticed that a product is positioned along
two or more product characteristics at the same time. You would have
seen this in the case of toothpaste market, most toothpaste insists on
‘freshness’ and ‘cavity fighter’ as the product characteristics. It is
always tempting to try to position along several product characteristics,
as it is frustrating to have some good characteristics that are not
communicated.
15. (2) Pricing as a positioning strategy - Quality Approach or Positioning
by Price-Quality – Lets take an example and understand this approach
just suppose you have to go and buy a pair of jeans, as soon as you enter
in the shop you will find different price rage jeans in the showroom say
price ranging from 350 rupees to 2000 rupees. As soon as look at the
jeans of 350 Rupees you say that it is not good in quality. Why?
16. Con…
Basically because of perception, as most of us perceive that if a product is
expensive will be a quality product where as product that is cheap is lower in
quality. If we look at this Price quality approach it is important and is largely
used in product positioning. In many product categories, there are brands that
deliberately attempt to offer more in terms of service, features or
performance. They charge more, partly to cover higher costs and partly to let
the consumers believe that the product is, certainly of higher quality.
17. (3) Positioning strategy based on Use or Application – Let’s understand this with the
help of an example like Nescafe Coffee for many years positioned itself as a winter
product and advertised mainly in winter but the introduction of cold coffee has
developed a positioning strategy for the summer months also. Basically this type of
positioning-by-use represents a second or third position for the brand, such type of
positioning is done deliberately to expand the brand’s market. If you are introducing
new uses of the product that will automatically expand the brand’s market.
18. (4) Positioning strategy based on Product Process – Another positioning approach
is to associate the product with its users or a class of users. Makes of casual
clothing like jeans have introduced ‘designer labels’ to develop a fashion image. In
this case the expectation is that the model or personality will influence the
product’s image by reflecting the characteristics and image of the model or
personality communicated as a product user.
19. Con…
Let’s not forget that Johnson and Johnson repositioned its shampoo from one used
for babies to one used by people who wash their hair frequently and therefore
need a mild people who wash their hair frequently and therefore need a mild
shampoo. This repositioning resulted in a market share.
20. (5) Positioning strategy based on Product Class - In some product class we have
to make sure critical positioning decisions For example, freeze dried coffee needed
to positions itself with respect to regular and instant coffee and similarly in case of
dried milk makers came out with instant breakfast positioned as a breakfast
substitute and virtually identical product positioned as a dietary meal substitute.
21. (6) Positioning strategy based on Cultural Symbols - In today’s world many advertisers are using
deeply entrenched cultural symbols to differentiate their brands from that of competitors. The
essential task is to identify something that is very meaningful to people that other competitors are not
using and associate this brand with that symbol. Air India uses maharaja as its logo, by this they are
trying to show that we welcome guest and give them royal treatment with lot of respect and it also
highlights Indian tradition. Using and popularizing trademarks generally follow this type of
positioning.
22. (7) Positioning strategy based on Competitors - In this type of positioning strategies, an
implicit or explicit frame of reference is one or more competitors. In some cases, reference
competitor(s) can be the dominant aspect of the positioning strategies of the firm, the firm
either uses the same of similar positioning strategies as used by the competitors or the
advertiser uses a new strategy taking the competitors’ strategy as the base. A good example
of this would be Colgate and Pepsodent. Colgate when entered into the market focused on
to family protection but when Pepsodent entered into the market with focus on 24 hour
protection and basically for kids, Colgate changed its focus from family protection to kids’
teeth protection which was a positioning strategy adopted because of competition.
23. Product also has various stages of life as human beings. From the time a product is
introduced, till it is withdrawn from the market, it goes through 5 stages. Analysis
of these stages for the purpose of repositioning the product in the market is called
Product Life Cycle management. The following are the stages in a product life
cycle.
1. Introduction Stage
2. The Growth Stage
3. The Maturity Stage
4. The Saturation Stage
5. The Decline Stage
PRODUCT LIFE CYCLE:
24. 1. Introduction Stages: In this stage, a new product is introduced on a
large scale for the first time. Market reacts slowly to the introduction. In
other words, consumers take time to accept the new product. Initially,
the company may suffer losses, sales improves gradually. Most of the
products fail in this stage itself.
25. Following are the characteristics of this stage:
Consumers do not have the knowledge of the product
Consumers may or may not be strongly in need of the new product.
If there is a need for the product, the company gets readymade demand.
Otherwise, it increases slowly.
Sales are minimum
The competition is less, in fact the company, which introduces new product is
called as a Market Pioneer.
The cost of it is very high because the company spends money heavily on Research
& Development, Sales, Promotion, etc.
26. Marketing Strategies during the Introduction Stage: A company has to prepare the
policies very carefully in the stages because it has a great impact on the image of a new
product. Even a minor mistake results in the premature death of a product. The following
are the strategies that the company may adopt in this stage:
1. It may spend heavily on promotion & fix high price. This meets two objectives. Firstly,
heavy promotion creates large demand & high price, brings immediate profits. This strategy
also helps to create brand preference in the minds of the consumer. It is normally followed
when there is a great need for the product, when the product belongs to the richer class &
when products are consumer specialties.
27. 2. This second strategy is to fix high price but to spend less on promotion.
This is preferred when the product has limited market, in which people have
knowledge about the product & the competition is completely absent.
3. Another strategy is to charge low price & spend heavily on promotion. This
is preferable when consumers are sensitive to the price & market is wide
enough. This strategy brings good returns in the long run.
28. 2. Growth Stage: It is called the market acceptance stage. Following
are its features:
Consumers & traders accept the product
Sales & profit increase
More competitions enter the market
The focus of competition is on the brand rather than the product
Competitors may introduce new features to the product
Distribution network increase
The price will be reduced marginally
29. 4. The company may charge low price & spends less on promotion. This
is preferable when the consumers are informed about the product,
market is very large & there is no competition for the time being. In the
introduction stage, the competitors are very cautious. They do not enter
the market immediately. They study the strategies of a company &
watch the reaction of the consumers. This helps them to find out the
defects of the company’s strategy.
30. Marketing Strategies in the Growth Stage:
• The company tries to impress upon the consumers that its brand is superior
• It may introduce new models or improve the quality
• It may enter new market & sell its products with new distribution channels
• To attract more buyers, it may reduce the price.
31. 3. Maturity Stage: This stage indicates the capacity to face the competition,
sales increases at a decreasing rate. Competition becomes severe. It is
reflected in various ways such as offering discounts, modifying products etc.
• Marketing Strategies during Maturity Period/Stage: In this stage, the
manufactures have to take responsibility to promote his product. This
strategy aims at creating brand loyalty.
32. 4. Saturation Stage: This is the stage when the sales reach the peak point. Competition intensifies
further & profit begins to decline. Small competitors may withdraw from the market because of their
incapability to face the competition.
• Marketing Strategies: This is the stage where the marketing manager must try to reposition his
product. Most of the strategies in this stage are offensive in nature. Each manufacture tries to cut
down his competitor’s market share by aggressive promotion policy. The objective of marketing in
this stage is to retain the present sales level.
33. 5. Decline Stage: For all products, sales invariably declines as new products enter the market. In this
stage, there is a sharp decline in the profits, cost increases & market share comes down. Most of the
manufactures withdraw from the market. Some may reduce production & concentrate only on a
limited market
• Marketing Strategies: This stage offers one of the greatest challenge to the marketing manager. He
has to decide whether or not to continue with the product. The main task of marketing manager is
to revitalize the demand instead of discontinuing the product immediately. It is better to withdraw
gradually. Those channels of distribution, which are costly & unproductive maybe removed. In the
meantime, the weak points of the marketing mix maybe identified & altered as required.