Fortunate companies can discover several potential differentiations that provide competitive advantages. This advantage can be make through two ways:
1. How many differences to promote;
2. Which differences to promote.
Lets See, companies how & which way build it's positioning strategy.
How many differences to promote:
Companies can't aggressively promote their only one products that benefits the target market.
Advertising executive Rosser Reeves said that a company should develop a unique selling proposition for each brand & stick to it. Other may think that companies should create a better position only one differentiator.
Which differences to promote:
Not all firms differentiate in a same way. Some differentiation may cost effective as well as customer benefits. A difference can satisfy the following criteria:
1. Important: It gives high benefit to target customers.
2. Distinctive: Companies have to offer their product in many distinctive way.
3. Superior: But the differences have more superior value that can satisfy the target markets.
4. Communicable: That difference should have communicable & visible tto buyers.
5. Preemptive: It is a unique quality that clmperitors can't copy the difference.
6. Affordable: Companies have set their price very planned way so that buyers can afford to pay for the difference.
7. Profitable: Companies have to introduce tbe difference in a profitable way.
Sometimes, companies failed to introduce the difference then they need to develop anotber way.
So ,choosing competitive advantages of product is very difficult tasks.
1. How many differences to promote;
2. Which differences to promote.
Lets See, companies how & which way build it's positioning strategy.
How many differences to promote:
Companies can't aggressively promote their only one products that benefits the target market.
Advertising executive Rosser Reeves said that a company should develop a unique selling proposition for each brand & stick to it. Other may think that companies should create a better position only one differentiator.
Which differences to promote:
Not all firms differentiate in a same way. Some differentiation may cost effective as well as customer benefits. A difference can satisfy the following criteria:
1. Important: It gives high benefit to target customers.
2. Distinctive: Companies have to offer their product in many distinctive way.
3. Superior: But the differences have more superior value that can satisfy the target markets.
4. Communicable: That difference should have communicable & visible tto buyers.
5. Preemptive: It is a unique quality that clmperitors can't copy the difference.
6. Affordable: Companies have set their price very planned way so that buyers can afford to pay for the difference.
7. Profitable: Companies have to introduce tbe difference in a profitable way.
Sometimes, companies failed to introduce the difference then they need to develop anotber way.
So ,choosing competitive advantages of product is very difficult tasks.
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