Brand Positioning and Value
Positioning is the process of designing the company’s offering and image to occupy a distinctive place in the minds of the target market (Kotler and Keller, 2006). Scientists Etzel, Walker and Stanton (1997) refer positioning as the management’s ability to bring attention to a brand and to differentiate in its favorable way from similar products in different brands. However, Ries and Trout (1986) emphasizes that positioning is not what is done to product/brand, positioning is what you do to the mind of the prospect. According to Vukasovic (2009), the positioning of a brand is ultimately depends on the consumer, and how they perceive the overall quality, attributes, value, price, and image of the brand. In short,
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The Point-of-Difference Associations (PODs) for Pantene 3 Minute Miracle Treatment are intended to be product performance, experience and key ingredients (Pantene’s claimed pro-vitamins). Its immediate effect to repair hair damages and to protect the hair’s inner cortex due to styling, heating, or exposure to pollution will be the brand’s attribute associated in the mind of consumers. This is mainly because Pantene 3 Minute Miracle Conditioner contains the highest amount of advanced Terminal Amino-Silicones (TAS) which flattens and smoothen the outer layer or the cuticle cells on the hair surface, thus it improves the hair conditioning and styling experience. It transforms brittle, rigid and damaged hair to touchable, soft, shiny and beautiful hair more effectively than its close competitors. Pantene’s tagline, ‘Hair So Healthy It Shines’ translates and reflects exactly what the brand itself claims or promises to deliver, thus it resides in the minds and hearts of customers as a credible brand that addresses their perceptual hair problems effectively.
On the other hand, Point-of-Parity Associations (POPs) of Pantene 3 Minute Miracle Conditioner is intended to be convenience, quality, price and value. These are the attributes that will be shared commonly with other brands, in which P&G can
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Therefore, it is important for companies to shape how customers think and feel about their products and brands in order to obtain goodwill and name recognition that can translate higher sales volume and higher profit margins against competing brands (from BusinessDictionary.com). Besides, customers will have specific, positive thoughts, feelings, images, beliefs, perceptions and opinions toward that particular brand if company can build the right type of experiences with the products and services and their accompanying marketing programs. Customers are most likely to react favorably to such experiences and become linked to the brand over time. In other words, CBBE occurs when the customer has high level of awareness and familiarity with the brand and holds strong favorable and unique brand associations in memory (Keller, 2003). Customer responses to the perceived brand can fall into five sub-dimensions of brand building blocks that are Salience, Performance, Imagery, Judgment, Feeling and
Thus, companies seek to strengthen customer loyalty. Brand loyalty is considered to tilt the consumer to purchase the package / product specific brand (Jacoby and Chestnut, 1978). Later, Oliver (1997) defined loyalty as "a deeply held commitment to REBUY or repatronize preferred product / service consistently in the future, thereby causing repetitive same-brand or same brand set purchasing, despite situational influences and marketing activities, which would result in causing switching behavior "(p. 34). This conceptual definition covers two different aspects of loyalty: the behavioral. This is consistent with an integrated conceptual framework proposed by Dick and Basu (1994), that customer loyalty is regarded as a "power relationship between the relative position of the individual and repeat
Positioning refers to how an organization communicates the benefits of their products and services to potential customers. Positioning a product involves research, development, design, branding and advertising. NHL being a niche sport, it is currently considered as a second rate sports league behind the NFL and NBA. It has a very passionate fan base, but it is relatively small when compared to the other sports. The lack of interest and fan following is attributed to the absence of knowledge and the failure to understand the unique features that NHL offers that are absent in other sports.
According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental
Today, the consumer market is saturated with products that are suppose to treat damaged hair. Consequently, it is difficult to wade through all the products that are surfacing in your local drugstore or beauty supply store. The average woman probably spends countless hours and time trying to find just the right product to treat her damaged hair. Certainly, this was true for the woman that wrote an article for Bustle about her hair raising experience testing Wen by Chaz Cleansing Conditioner on her damaged hair. TheWen by Chaz Dean Cleansing Conditioner is a favorite on those night-time infomercials, but is it the real deal?
What position does branding hold in the minds of the customers compared with competition? Branding is a strategy used by marketers to differentiate products and companies in order to build economic value particularly for the consumer and the brand owner. A strong brand in most cases inspires customer loyalty that leads to high sales of products. Given that, Microsoft that represents a series of owns Xbox One video games has introduced the strategy of branding in order to remain viable in the market.
For any business to successfully add value they either do so through lower costs or superior benefits to the consumer by offering product differentiation (Singh 2012). Samsung was a late starter into the smart phone industry, while, this has not prevented them from successfully positioning their product at the forefront against those offered by their competition such as Apple. Gary Armstrong (2011) defines a product’s position as “the complex set of perceptions, impressions and feelings that consumers
Positioning means where a brand stands in the eyes of its target audience. Positioning helps the marketers in giving them a proper strategy and makes the target audience view a brand in the same manners. It focuses on priority or aim of the company. In the case of Nucor Corporation, it changes its positioning and came up with new, innovative strategies and products for its potential buyers (Brandeo.com, p. 2).
P&G is to become a leader in the European market of two in one hair products. The first year objective is to attract new European customers from competing brands to shift to the use of shampoo to BC-18. The aim is to exert a pull on the population in order to create a new market niche inside the shampoo market and encourage the people to use the new BC-18. In effect BC-18 technology serves the core need of washing hair and therefore it has to compete with the different national brands which are often well established.
The Customer reflection of Burt's Bees is all people, including children and adults, young and old, male and female. But the main target audience Burt's Bees is young and middle-aged female. Nowadays, personal care products could achieve the clean purpose, so customers are no longer buy the products just for clean, they often prefer to the efficacy of maintaining and beautifying their image and nourishing. And young and middle-aged female pay more attention to their image and nourish themselves by personal care products. So all most of Burt's Bees products could satisfy their needs. After
Marketing represents a fundamental pattern of thought and action management. Conceptual marketing begins with a vision. This serves as the firm’s principle values, and motivation for owners and staff. Vision not only means attractive ideas, but the firms cohesive visions and goals. Marketing is a business concept that is based on “the assumption that the market determines all business activities that a company pursues in order to achieve its business objectives.” The implementation of marketing involves analyzing the goals, strategies, job acquisitions and communication efforts. Marketing enables architects to create new paths when practicing in the profession to showcase their competency; it also creates a bridge to maneuver into new fields to enhance their image. This is what is takes to position the firm into the market. Positioning is “striving for a position on the market and among the public that has yet to be attained. It is based on the competencies that were processed in an analysis of the
There are many unfamiliar brand names and alternatives available in the market, but consumers may prefer to trust major famous brand names. Famous brand names can disseminate product benefits and lead to higher recall of advertised benefits than non-famous brand names (Keller, 2003). This is important for brands, which have only minor physical differences and consumed in a social setting where the brand can create a visible image about the consumer itself.
Positioning creates a perception in people’s mind of what the product does and differentiates the product in the mind of the consumer. Consol prides itself in their ability to use the positioning marketing concept effectively for their target market, focusing widely on the benefits Consol glass provides its customers and the environment. The objective of this essay is to prove that Consol’s positioning is effective because it coincides with the four drivers of successful relationships with customers, communicates the benefits that the product provides and thus provides clear a distinction from their competitors.
Branding is a powerful tool in positioning your product. Branding is valuable when customers are determining a product to buy. Customers select products from the package design and the style of the writing presented on the product. The brand positioning that Target will be focusing on is Quality Positioning. Quality positioning can be used with any other brand marketing strategy. Consumers would want to know that our products and services are durable, reliable, and if they are worth the cost. We want to provide our consumers with the best quality products so they will keep coming back to buy from Target.
After the organization has selected its target market, the next stage is to decide how it wants to position itself within that chosen segment. Positioning refers to ‘how organizations want their consumers to see their product’. What message about the product or service is the company trying to put across. The UK car Skoda brand which has been taken over by Volkswagen has been re-positioned as a vehicle which had negative brand associations, to one which regularly wins car of the year awards. The positive comments from the industry and attributes of this vehicle is has changed the perception of consumers about the Skoda brand.
Manhas (2010) states that successful positioning can only be achieved by adopting a customer’s perspective and according to him, in developing a positioning, the company has to consider four things: the target market, differentiation of the product, the value of this difference and the ability to communicate this to the target market. A quantitative way to assess what attributes