After deciding a firm's target segments to enter, then the firm try to create value proposition. Value proposition defines how a firm differentiate & position itself in the marketplace & it promises to delivered superior benefits & values that satisfy the customer needs. Then firms try to create a position in the mind of target customers.
Consumers have so many information about goods & services. Before taking decision of purchase, they just set their mind in which brands they should buy. Here, product position works in the mind of target customers & having superior quality comparing competitive brands. This position create automatically when product perceived value match with customers expectations.
Choosing a differentiation & positioning strategy:
When a firm add good quality, unique design, better services then the firms easily choose a differtiation & positioning strategy. Adding good quality in their products, firms can differtiate itself from competitors if there are enough buyers seeking quality.
Further more, a brand's positioning can serve well the needs & preference of target markets. Differentiation & positioning consists of three steps:
1. Identifying a set of competitive advantages on which to build a position;
2. Choosing the right competitive advantages;
3. Selecting an overall positioning strategy.
If a firms maintain this three steps, then it can effectively communicate & deliver the the right position to the market.
Now, I'm going to discuss identifying possible value differences & competitive advantages.
Every firm wants to build a profitable customer relationship with target consumers. Marketers must understand the target cconsumer needs & try to deliver more customer value better than competitors. When a firms differentiate & position itself delivering superior customer value it gains competitive advantages.
Through products differentiation, brands are different from other brands having on features, performance, style, design & quality. Having this attributes, firms can create their position in the mind of target customers.
Consumers have so many information about goods & services. Before taking decision of purchase, they just set their mind in which brands they should buy. Here, product position works in the mind of target customers & having superior quality comparing competitive brands. This position create automatically when product perceived value match with customers expectations.
Choosing a differentiation & positioning strategy:
When a firm add good quality, unique design, better services then the firms easily choose a differtiation & positioning strategy. Adding good quality in their products, firms can differtiate itself from competitors if there are enough buyers seeking quality.
Further more, a brand's positioning can serve well the needs & preference of target markets. Differentiation & positioning consists of three steps:
1. Identifying a set of competitive advantages on which to build a position;
2. Choosing the right competitive advantages;
3. Selecting an overall positioning strategy.
If a firms maintain this three steps, then it can effectively communicate & deliver the the right position to the market.
Now, I'm going to discuss identifying possible value differences & competitive advantages.
Every firm wants to build a profitable customer relationship with target consumers. Marketers must understand the target cconsumer needs & try to deliver more customer value better than competitors. When a firms differentiate & position itself delivering superior customer value it gains competitive advantages.
Through products differentiation, brands are different from other brands having on features, performance, style, design & quality. Having this attributes, firms can create their position in the mind of target customers.
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