POSITIONING DIFFERENTATION EVERY COMPANY WANTS TO DIFFERENTIATE ITS

POSITIONING & DIFFERENTATION • EVERY COMPANY WANTS TO DIFFERENTIATE IT’S PRODUCTS FOR CUSTMERS TO VIEW THEM AS DISTINCT FROM COMPETITORS’OFFER AND POSITION THEM WELL AMONG CUSTOMERS. • IDENTIFY SPECIFIC ATTRIBUTES THAT GIVE IT A COMPETITIVE ADVANTAGE • POSITIONING GIVES AN ACCOUNT OF IMPORTANT ATTRIBUTES PREFERRED BY TARGET CUSTOMERS. • MARKETERS SHOULD HAVE KNOWLEDGE NOT ONLY OF OWN PRODUCTS BUT ALSO OF COMPETITORS. • THE ANALYSIS CAN GIVE THEM INSIGHTS WHERE MODIFICATIONS ARE REQUIRED.

DEFINITION AND BACKGROUND • POSITIONING IS CONCERNED WITH THE IDENTIFICATION, DEVELOPMENT AND COMMUNICATION OF A DIFFERENTIATED ADVANTAGE WHICH MAKES THE ORGANISATION’S PRODUCTS/SERVICES PERCEIVED AS SUPERIOR AND DISTINCTIVE TO THOSE OF ITS COMPETITORS IN THE MINDS OF TARGET CUSTOMERS. • PRODUCT 50’S IMAGE— 60’S POSITIONING— 70’S • POSITIONING IS NOT WHAT YOU DO TO A PRODUCT—IT IS WHAT YOU DO TO THE MIND OF PROSPECT • CUSTOMER COMPARES COST/VALUE/QUALITY • SUPERIOR DELIVERED VALUE.

POSITIONING STRATEGIES • • • ATTRIBUTE POSITIONING --HIGHEST CIRCULATON OF NEWSPAPER, OLDEST ORG. . BENEFIT POSITIONING -ICICI(INTERNET BANKING) (AIRCONDITIONED BUS) USE/APPLICATION POSITIONING - JOB Z SUPPLEMENT OF SAKAL NEWSPAPER @ USER POSITIONING (PRODUCT/SERVICES FOR SPECIFIC TARGET GROUP) @ COMPETITOR POSITIONING (NOTHING OFFICIAL ABOUT IT)

POSITIONING STRATREGIES CONTD. . • CATEGORY POSITIONING – -- POSITIONING AS A LEADER IN CATEGORY (ESSEL WORLD, LIC) * QUALITY/PRICE POSITIONING

DIFFERENTATION • A FIRM IS SAID TO HAVE ACHIEVED DIFFERENTATION WHEN ITS CUSTOMERS PERCEIVE THAT SERVICE IS DIFFERENT FROM THAT OF COMPETITORS ON THE BASIS OF ANY ONE ELMENTS OF MARKTING MIX. • ( ADVERTISEMNT OF MARUTI)

CRITERIA FOR DIFFERENTIATING ATTRIBUTES • • IMPORTANT DISTINCTIVE SUPERIOR COMMUNICABLE PREMPTIVE(CANNOT BE COPIED) AFFORDABLE PROFITABLE.

ROLE OF POSITIONING IN MKT, STRATEGY • POSITIONING STRATEGY MAKES IT POSSIBLE FOR AN ORG’S PRODUCT/SERVICE TO OCCUPY UNIQUE POSITION IN CUSTOMERS MINDS. • POSITIONING OF SERVICE DIFFICULT AS COMPARED TO POSITIONING OF COMMODITY. (INTAGIBILITY). THEREFORE HELP OF TANGIBLE CLUES NECESSARY. ( WHAT FACTORS CUSTOMER THINK IMPORTANTHDFC-DISTRIBUTION OF HOME LOANS FASTEST) (MARUTI SERVICE CENTRES AT EVERY NOOK AND CORNER)

STEPS IN DEVELOPING A POSITIONING STRATEGY DETERMINING LEVELS OF POSITIONING (e. g. L. I. C. ) --SERVICE LEVEL (COMPLETE INSURANCE SERVICE) (FLEXIBLE POLICIES) -- CORPORATE LEVEL ( TRUSTWORTHY COMPANY) --CATEGORY LEVEL –VARIOUS INVESTMENT OPTIONS. IDENTIFICATION OF ATTRIBUTES THAT TARGET SEGMENT CONSIDERS IMPORTANT --UNIQUENESS OF FEATURE. --SPECIFIC USES OF SERVICES --PRICE AND PERCEIVED DELIVERED VALUE. (MBA DEGREE)

• ABILITY TO SERVE NEEDS OF PARTICULAR SEGMENT • ATTRIBUTE SHOULD PROVIDE RATIONAL AND EMOTIONAL BENEFITS. • CONDUCTING MARKET RESEARCH WOULD HELP UNDERSTAND CUSTOMERS PREFERENCES AND DEVELOP POSITIONING STRATEGIES.

EVALUATING POSITIONING OPTIONS STREGTHNING PRESENT POSITION AGAINST COMPETITORS. IDENTIFYING AN UNOCCUPIED MARKET POSITION. REPOSITIONING THE COMPETITORS.

IMPLEMENTING THE POSITION • • • SERVICE(INNOVATIVE SERVICE) PRICE LOCATION PROMOTION PEOPLE (WE CARE) PROCESS.