User:BronHiggs/Positioning (marketing)
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Positioning refers to the place that a brand occupies in the mind of the customer. It is particularly concerned with the distinctive place relative to competitors. In order to position products or brands, companies may emphasize the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through the marketing mix. Once a brand has achieved a strong position, it can become difficult to reposition it. Positioning is also known as product positioning.
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Positioning is one of the most powerful marketing concepts and the meaning of positioning was rather limited in the earlier years when marketing was just getting started which focused on the concept of reputation. Positioning then became “the place a brand occupies in the mind of its target audience”.[1] Under this meaning many companies now use the concept of positioning as a part of their everyday marketing activities or strategies and is also used as a tool for explaining how consumers can relate to foreign markets easier.[1]
Positioning is the final step in the S-T-P planning approach ; Segmentation→ Targeting → Positioning; a core framework for developing marketing plans and setting objectives. In the STP approach, a market is segmented, one or more segments are selected to become targets of the marketing activity, and a marketing program is developed with the needs and wants of the core targets in mind. Products or services are positioned in a way that resonates with the selected target market or markets.[citation needed]