Jim’s Gym Value Propositions
Feeling a little confused about the difference between positioning statements and value propositions. You are not alone these terms are transposable, but also it means a slightly different item. Value proposition refers to the big picture of the company 's product, what they reflect, the promise, but the primary benefits offered to multiple market segments and the price paid for those benefits.
Positioning statements are a division of the value proposition. The positioning statements used in marketing communication and activities. It includes the target audience character, as a name brand category benefit and variation. According to Bueno, BJ & Jeffrey, S
How to Create a Brand Positioning Statement
There are four essential elements of a best-in-class positioning statement:
1. Target Customer: What is a concise summary of the attitudinal and demographic description of the target group of customers your brand is attempting to appeal to and attract?
2. Market Definition: What category is your brand competing in and in what context does your brand have relevance to your customers?
3. Brand Promise: What is the most compelling (emotional/rational) benefit to your target customers that your brand can own relative to your competition?
4. Reason to Believe: What is the most compelling evidence that your brand delivers on its brand promise? (Bueno & Jeffrey, 2006 Para 9) However, the positioning statement on the value proposition is very important as
The product strategy ranges from brand name to product image to package design to service to guarantee to product development and more; pricing strategy must allow your prices to be fair relative to the benefits of your product and must factor in competition; distribution is the goal to deliver your product to the right people in the right quantities, at the right time and the right place; and promotion strategy includes all the ways that marketers communicate about their products.
It is desirable to develop demographic and psychographic profiles of these likely consumers (the target audience).
- the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.
In conclusion, positioning is a strategic way of selling products geared towards the desires of wanting, needing, owning and obtaining something great. Positioning is how a company presents and differentiates itself, and its product, from competition in order to gain and keep prospective buyers. So it is safe to say that positioning is a strategic way in winning the hearts and minds of consumers for their confidence, and their
Positioning answers the question "What do you do?" Your position statement should be positive. It should explain what you are, rather than what you are not. This is how you tell customers what you can do for them. Your position statement also tells your employees how their work, "makes the world a better place." It must be easy to understand, to the point and focused. Doing that will help you find what you are best at, because the best way to grow is to start with a "beachhead," a small segment of the market that you serve well, and expand from
Stephens addresses the new age of the consumer industry with three brand organizational competencies, “honesty, illumination and immediacy.” Brands that are able to differentiate themselves are ones that are able to simplify information to their customers, highlight the key information and features of the product that suit the customer’s priority, and respond to their customers, ultimately demonstrating dedicated customer engagement. Customers want brands that are able to simply sell them what they want; Stephen states, “they just want brands to make their path to purchase less complex and onerous” (137). This is backed by the emphasis on a companies’ ability to provide customers unfiltered information about the
The positioning _____ is the positioning initiative which combines marketing program (mix) policies used to portray the positioning desired by management to the targeted buyers. It includes the product (good or service), supporting services, distribution channels, price, and promotion actions taken by the organization.
A clear positioning statement is important because it serves as a guideline to creative development underlying the advertising program which could not be initiated if it is not well developed.
Target market/customer profile: individual or business, retail or wholesale, demographic, psychographic, geographic, socio-economic characteristics, size or needs met.
The strategic marketing planning process flows from a mission and vision statement to a selection of target markets, and the formation of a specific marketing mix and positioning objective for each product an organisation will offer. Leading authors like Kotler present the organisation as a value creation and delivery sequence. In its first phrase, choosing the value, the strategist “proceeds to segment the market, select the appropriate market target, and develop the offer’s value positioning. The formula – segmentation, targeting, positioning (STP) – is the essence of strategic marketing.” 1
Positioning Statement As written in the book Crossing the Chasm (Copyright 1991, by Geoffrey Moore, HarperCollins Publishers), the position statement is a phrase so formulated: For (target customer) who (statement of the need or opportunity), the (product name) is a (product category) that (statement of key benefit – that is, compelling reason to buy). Unlike (primary competitive alternative), our product (statement of primary differentiation).
Positioning is the act of designing the company 's offering and image to occupy a distinct place in the target market 's mind.
Therefore, this proposal will define the impact of brand credibility on brand preference, information costs saved, perceived risk, and brand prestige on behavioural intention.
Positioning refers to the act of distinguishing a brand in customer’s minds relative to a competing brand in terms of the benefits and attributes that the brand offers, Keegan and Green (2005). According to Aaker and Shansby (2001), positioning goes far beyond the image that a marketer may want to conjure up in the mind of customers. Positioning can be viewed as a principle asset to a brand strategy, as all elements of the marketing program can potentially affect the effectiveness of any positioning strategy. A clear positioning strategy can guarantee that the elements of the marketing program are supportive and consistent, Keegan and Green (2005).
4. Hooley, G., Piercy, N. and Nicoulaud, B. (2008). Marketing strategy and competitive positioning. 1st ed. Harlow: Financial Times Prentice Hall.