Positioning strategy

Order of four steps
1. Analyse 2. Competitive advantage 3. Marketing mix 4. Evaluate
1. Analyse
Analyse competitors’ positions in marketplace
2. Competitive advantage
Offer good/service with competitive advantage – what makes it better? Position by things such as country of origin, price vs quality, price
3. Marketing mix
Finalise marketing mix – must deliver benefits and value expected and done better than competitor. All elements of mix must satisfy consumer needs and provide value
4. Evaluate
Evaluate reponses so can modify strategy. Must monitor response –> repositioning
Perceptual maps
Used to map how brands are perceived and located in consumers minds
Marketing mix 4ps
Product, price, promotion, place
Positioning definition
Developing a marketing strategy aimed at influencing how product is perceived in comparison to competiton
Repositioning definition
Modifying a products position to respond to consumer demands and marketplace changes. May change product, price, name, or logo.