Get premium membership and access questions with answers, video lessons as well as revision papers.
1. Premium prices: Good positioning cements the product in the customer's awareness. It gives the customer information about the product in unique way that resonates and states their mind forever. If executed correctly, positing creates value, ensuring that customer will pay more for the product because they understand and agree with the product's position. This execution requires using advertising to explain to consumers the similarities and differences between the product and competing products so that customers understand why they should pay a premium.
2. Branding: Brands that customers see as positive command premium prices. Brands can extend their market position to new products that the parent company introduces. This an advantage over companies who don't have brand positioning because unbranded new offerings can't command a premium.
3. Category Claims: Marketers use advertising to makes claims about the category that the product belongs to and describe the product's position in the category. Category claims describe how the product is better than competitors. For example, an advertisement for a pen could make the category claim that it runs out of ink less often than other pens. Category claims help define and strengthen the product position and overall brand
4. Differentiation competitive advantage . If customers see enough positive differences between a product position and its competitors position the product becomes differentiated. This means that the product has the competitive advantage and many customers believe that the product performs better and in ways that competing products cannot perform. The customer may feel that they have an advantage over other people who don't use the product.
5. Facilitates word of mouth communication. Customers who tell others about this advantage further differentiate by making word-of-mouth category claims, enhancing the product's position and spreading favorable information about the brand.
6. Facilitates targeting strategy. Market target is a group of consumers with high potential to buy its brand that share demographic characteristics such as age and sex etc . The brand's positioning is tailored to the needs and wants of those consumers.
7. Competitiveness . A product's positioning aims at establishing a superior position relative to competition by focusing on points of differentiation especially on attributes.
Lellah answered the question on November 5, 2021 at 08:41
- Outline major sources of product differentiation.(Solved)
Outline major sources of product differentiation.
Date posted: November 5, 2021. Answers (1)
- Explain the term product de-positioning.(Solved)
Explain the term product de-positioning.
Date posted: November 5, 2021. Answers (1)
- Explain the term re-positioning.(Solved)
Explain the term re-positioning.
Date posted: November 5, 2021. Answers (1)
- Discuss the strategies for product positioning.(Solved)
Discuss the strategies for product positioning.
Date posted: November 5, 2021. Answers (1)
- What does product positioning process involve?(Solved)
What does product positioning process involve?
Date posted: November 5, 2021. Answers (1)
- Outline the steps that a company must follow in order to achieve a particular product or service positioning.(Solved)
Outline the steps that a company must follow in order to achieve a particular product or service positioning.
Date posted: November 5, 2021. Answers (1)
- Explain the term product positioning.(Solved)
Explain the term product positioning.
Date posted: November 5, 2021. Answers (1)
- Explain the requirements for successful /effective segmentation.(Solved)
Explain the requirements for successful /effective segmentation.
Date posted: November 5, 2021. Answers (1)
- State and explain factors that influence the choice of targeting strategy in marketing.(Solved)
State and explain factors that influence the choice of targeting strategy in marketing.
Date posted: November 5, 2021. Answers (1)
- Discuss demographic segmentation in marketing.(Solved)
Discuss demographic segmentation in marketing.
Date posted: November 5, 2021. Answers (1)
- Give advantages and disadvantages of demographic segmentation.(Solved)
Give advantages and disadvantages of demographic segmentation.
Date posted: November 5, 2021. Answers (1)
- Give advantages and disadvantages of geographic segmentation.(Solved)
Give advantages and disadvantages of geographic segmentation.
Date posted: November 5, 2021. Answers (1)
- Give reasons why geographic segmentation can be a useful strategy to segment markets.(Solved)
Give reasons why geographic segmentation can be a useful strategy to segment markets.
Date posted: November 5, 2021. Answers (1)
- Outline the Steps in the market segmentation Process(Solved)
Outline the Steps in the market segmentation Process
Date posted: November 5, 2021. Answers (1)
- Give the disadvantages of Market Segmentation.(Solved)
Give the disadvantages of Market Segmentation.
Date posted: November 5, 2021. Answers (1)
- Explain the importance Of Market Segmentation.(Solved)
Explain the importance Of Market Segmentation.
Date posted: November 5, 2021. Answers (1)
- Give two objectives of market segmentation.(Solved)
Give two objectives of market segmentation.
Date posted: November 5, 2021. Answers (1)
- State the subcultures that consumers can be subdivided into. (Solved)
State the subcultures that consumers can be subdivided into.
Date posted: November 5, 2021. Answers (1)
- Name the two distinct elements that the cultural profile of any society consists of.(Solved)
Name the two distinct elements that the cultural profile of any society consists of.
Date posted: November 5, 2021. Answers (1)
- Define subculture.(Solved)
Define subculture.
Date posted: November 5, 2021. Answers (1)