Customer-Driven Marketing Strategy: Creating Value for Target Customers - Differentiation and Positioning
10 important questions on Customer-Driven Marketing Strategy: Creating Value for Target Customers - Differentiation and Positioning
What is product positioning?
What is a positioning map?
When you have positioned your brand/product, you can issue the positioning statement.
What is the positioning statement and what are its criteria?
- The positioning statement is a succinct description that articulations how an organisation/brand wants to be perceived by its target audience.
- Common format:
- For (target customers), who (unsolved customer needs), our product is (product description), that provides (key benefits). Unlike (key competing brands), our product (points of difference).
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Define the perceptional positioning map?
How do you choose a differentiation and positioning strategy?
2. Choosing the right competitive advantages.
3. Selecting an overall positioning strategy
4. Communicating and delivering the position to the market.
A Brand's positioning must serve the needs and preferences of well defined target markets. The differentiation and positioning consists of three steps. What are those steps?
2. Choose the right competitive advantage
3. Select an overall positioning strategy
When is competitive advantage reached?
Competitive advantage can be gained through product, service, channel, people and image. What's the difference between those differentiation strategies?
Serivce; differentiation on speed and convenient service.
Channel; differentiation on design of channel's coverage, expertise and performance.
People; hiring and training people, better than competitors do.
Image; should convey a product's benefits and positioning.
How can a company differentiate itself? (5)
2. Services
3. People
4. Channels
5. Images
A competitive advantage should be:
- Distinctive: Competitors do not offer the difference, or the company can offer it in a more distinctive way
- Superior: The difference is superior.
- Communicable: The difference is communicable
- Preemptive: Cannot easily copy
- Affordable: Buyers can afford the difference
- Profitable: Needs to be profitable
The question on the page originate from the summary of the following study material:
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- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
