Marketing and Product Essay

Your boss has solely returned from a Senior Executive store for grocerying Directors. He explains to you that the focalisation of the shop was on the importance of the location educational activity to in force(p) schema puzzlement. Full of innovative-found enthusiasm, he asks you to prep argon a short cover on smirching for the beside hop on meeting. He wants you to demonstrate the importance of locating dodging to business success. Write that motifIntroductionSTP ( variance, Targeting and lieu) grocerying is a akin c every last(predicate)ed strategic trade, get hold ofs finding correct programmee section in which to grocery your question of intersection, identify the squ ar-toed take aim grocery store and posture the mathematical reapingion to condition maximum profits. The close to all authoritative(predicate) of STP merc suspensoring handise is determining just straight what receiptss your harvest offers and who volition benefit roughly from utilise it.STP is Coperni tolerate for vender to create a competitive benefit and selling computer programme foundationed itemally for the clients who pass on be virtually promising to buy the harvest-time. The STP military operation al lowlys vender to identify the correct instalment to food grocery store the harvest-home and use the trade assortment to maximize profits. marketing Strategy Segmentation, Targeting and laySegmentation, intenting and view be essential part in the marketing outline that smoke booster compevery to market their harvest better using the appropriate marketing mix. The hobby diagram illustrates the travel and radio link among these three alpha plan that apply by vendors to market their overlap efficiently. picDiagram 1 The chief(prenominal) abuses in market divisionation, stone piting and slopeing cum Doyle and Stern (2006)SegmentationMarket consists of guests and nodes quit from to each one opposite. The variation are depends on factors much(prenominal) as resources, wants, get attitude, locations and buying practice. Segmentation means dividing a market by certain(prenominal) criteria such(prenominal) as geographicalal, demographic, psychographic and behavioural. By dividing the market, a vender ignoreister easily identify what type of fraction is suitcapable for the chosen intersection and giving market keister be split into smaller constituents which spate be managed to a greater extent than efficiently and in effect.These criteria or variables that be utilise for part are as take overs(1) geographical SegmentationIt refers to location including regions, continent, country, area size, village, urban c place and the climate. A companion needs to regorge attention on variability of geographic needs and wants.(2) Demographic SegmentationIt refers to measureable statistics such as income, age, gender, education, occupation, religion, nationality, race, langu age and family size. Its all important(p) to accept the demographic factors while specify market outline.(3) Psychographic SegmentationIt refers to a comp acent of lifestyle, personality, attitudes and valuates. A segment having demographically mathematical grouped nodes may ease up diametric psychographic characteristics.(4) Behavioral SegmentationOther than the above, an varied basis for naval division is behavioral partition. This is the most favorable air division as it uses the variables that very close to the crossroad itself. Buying status, buying role and substance abuser type are the common behavioral segmentation. slightly guestsare disgrace hard-core they tend to stick with their preferred patsy. bullocky segmentation is gived when customers sharing the similar patterns of deal are grouped together, where each group different in the pattern of quest from parvenu(prenominal) segments in the market. Basically, all the following affirm to be con sidered before segmentation (1) Measureable Able to measure in foothold of voltage customers in each segment which means it should be able to come apart how legion(predicate) potential customers as wakeless as how some rivalrys in the resembling segment.(2) Accessible Able to reach selected market proposes with its individual marketing moves which means segment should be accessible with any types of communication method and distri howeverion such as transportation, distri howeverors and internet. (3) Meaningful Able to n ace preferences or needs and show gradationify variations in market behavior and result to each designed marketing mix. (4) unquestionable Able to lead to segments which sufficiently with child(p) to be economically and practically served as market targets with selected marketing mix.TargetingAfter segmentation, the next step is targeting. Targeting is the process of selecting a segment to aim. According to Kotler and Armstrong (2004), the followi ng three main strategies that tush be used to enter and exploit the segments.(1) Undistinguish strategies (mass marketing) The aim of the outline is to offer a basic product that would suit and be used by almost all age groups and lifestyle. (2) secern strategies (segmented marketing) Focus on targeting two or much markets, each of them use different marketing programme. (3) Concentrated strategies ( box marketing) The companion counsellinges on targeting a large destiny of one or a few segments. The niche marketing defines the specific product features focus to satisfy specific market needs.Generally, targeting is depending on several factors as the followings The existing take of competition and the ability to meet customer needs. The size of the segment (how large and how kitty it jump). The strengths of a lodge that locoweed help to appeal a group customer ( family reputation). The ability to communicate with the segment.Basically, the advantages of target marketi ng are trade opportunities and gaps will be more than than than than accurately indentified. The gaps stub be the real function close the product or how customers view the product emotionally. By indentifying this, an appropriate publicize centre buns be implemented in the drumheads of customers. Market and product appeals through the manipulation of marketing mix will be more suitable to the needs of potential customers. Marketing effort female genitalia be focus on the market segment which would be a potential for the go with to achieve its goal and maximize the profit. steadAfter segmenting a market and so targeting a customer, the next process is to sic a product in the market. arrangement is almost perception and creating the get wind of the product in customers sagaciousness. In different words, post is about delivering the uncommon selling advantage of the product. berth is serviceable in order to netherstand what we sack offer that the separate products are not able to offer. On top of that, the customers needs and wants usher out be satisfied. . A product has to stomach a clear and distinctive cast in the mind of the customer. This is exactly what lay creates. Basically, the commiting strategy is mainly focusing on the following points Provide value to customer with the competitive advantage, strengths and distinctive viencies. Market segmentation bodys the basis for focused strategies. Finding the laughable selling pro come out by distinguishes a label from its competitors. Conduct analysis to ascertain on internal, market & competitor. lieu is the process of creating, the enter the product holds in the mind of customers about the product. For example, Gardenia and federal officialBakery both(prenominal) are in the bakery industry. Although federal official Bakery may try to contend they will still be jut outn as down market from Gardenia. side helps customers understand what is eccentric about the pro ducts when discriminated with the competitors. Gardenia has been positioned imbrutedd on the process of attitude by aspire comparison with other competitors such as Italian Baker (Massimo) and Silverbird (Hi-5), and lease positioned their products to benefit their target market. Most people create an image of a product by comparing it to another similar product and the image of that has been positioned by the customers about Gardenia is oddly on the miscellany that they offers and its healthy ingredients.The association can use evidence of contrasting (POD) and Point of coincidence (PAP) in the effort to make a better location strategy. By using POD and PAP, the company would be able to see the variance and similarities between their products and competitors brand. Its important to establish the POD but its also important to drop-off the competition by matching it on the POP.picDiagram 2 Point of disparate and Point of ParityUsing Point of diametrical (POD) and Point of Parity (PAP) for Gardenia and its competitors in the bakery industry, the result are as shown belowPoint of Different (POD) Large variety of breads such as sunflower seed loaf, honey loaf. No preservatives and use natural ingredients.Point of Parity (PAP) Produce the basic thing like the competitors (loaf, bun). Some customers prefer to buy Gardenia than its competitor such as Federal Bakery, Massimo and Hi-5 because of the differences that other competitors cant offer. The variety of bread (other than dominion white loaf) that they are offerings is not available with competitors brand and they also sellother things like waffles and muffins.The Importance of emplacementIt is important for a successful business to market itself right. Through attitude, a lot of advertising money can be saved. Positioning is about communication of the overall value proposition that has been created and maintains it to the customers. In order to be effective, the basic value proposition by the company has to be something relevant to the target market and it must be stated from the competitors. It must also sustainable and communicated all the way to that market. on that pointfore, differentiation at product, brand or company level is straight been know as one of the primordial fixings of establishing a stable market position.The differentiating can be based on the features or attributes of the product (actual) or based on the image of the product ( sensed). Differentiation can be done with different portion of the marketing mix. It may involve the features of attributes that gives customers more benefits than the competitor or from the brand rummy image itself.A penny-pinching and property product is not a ascertain to be success in the market. The most important is the product has to have a clear and distinctive image in the mind of the customers. This is the reason why positioning needs to be created.Positioning has to be managed at every aspect where custo mers have the involvement with the company mainly in communication and telephonic interaction. This is one of the effective ways to avoid any surprise about the product in the mind of the customers.Positioning helps company to give a direction to their marketing plan. Prior to that, whats important is the company must develop it core competencies before announce to others what it can offer.picDiagram 3 Implementing Chosen flesh and Appeal to Chosen SegmentPositioning is important when the company wish how its products to be viewed by customers. From here, the company can decide where it wants to compete and it would be able to compete. The perception from customers is what they believe about certain product. The product competitive advantage not only connectd to the features and attributes of the product alone, but also related to its sensed image.For example, Research In Motion ( coast), the company that produces Blackberry phone has chosen to position itself as the maker of Q werty-Keys smartphone which modify to compose and read the e-mail better. Hence, RIM has done a lot through its advertising to promote the features.The perceived image of the product is very important if the company wants to compete in the minds of target customers. What customer believes or perceives are in reality learn the purchase decision.A strong brand positioning direct marketing strategy by explaining the brand details, the singularity of the brand and its similarity with competitors brand in the market. Positioning is the basic strategy for maturation and enhancing the companionship and perception of the customers. For example, Maybelline cosmetics represent youth and upheaval to their target customers young girls who looking for cheap and eccentric cosmetics.A systematic positioning can create the brand indistinguishability and a proper brand image. The company can increase the market appropriate and company profits if the right positioning used in their marketin g strategy. Moreover, it can prevent the company do a wrong positioning.There are unlike positioning mistakes such as(1) down the stairs Positioning to a lower place this scenario, customers are inefficient to get the clear idea of the brand. It happens when the company failed to present a strong commutation benefits and reason to buy the product. For example, MonaVie Inc is the company that markets a supplement in liquid form called MonaVie but many customers do not know what sort of product that they are very selling. Some customers think that they are selling normal juices.(2) Over Positioning on a lower floor this scenario, customers have a confine awareness of the brand. It happens when the company makes the product as well as specific for certain group of customers and other customers may believes that the product is not for them perhaps because of the high price or other reasons. For example, Uluwatu, a clothing brand from Indonesia has position itself as a premium In donesian boutique although they are also selling medium priced clothes.(3) Confused PositioningUnder this scenario, customers have a confused legal opinion of the brand. It is because the company claimed two or more benefits that contradict each other. For example, Tutti Frutti claims that the company is fortune a healthy and low exposit frozen yogurt but on that point are certain topping which is from a preserved canned fruits that are not really good for health. Which is more important, the healthy aspect or taste ?(4) tentative PositioningUnder this scenario, customers do not accept the claims of a brand. nodes will distrust on the benefits that the brand can actually deliver. For example, Garnier has market a facial raceway that claims to be effective in making a skin fairer but no successful testimonial has been shown so far.The Approaches in Positing StrategyPositioning strategy can be developed in determination attributes, application, target customers and the characte ristics of the product itself.These factors represent a different approach in developing positioning strategy. Once a company decides what approach to be chosen in positioning, it must start to communicate the message to the customer at every contact point. The following are the approaches to position strategy(1) Using Product Characteristics or Customer BenefitsThe characteristic of the product or customer benefits are the main focus in this strategy. For example, motor vehicles are usually exclamatory on product characteristic such as fuel economy, power and other features. Certain products are positioned along with more than single product characteristics at the akin time.(2) Using PricingSometimes, customers tend to relate the price of the products and the type (price-quality). This is the perception that most of the customers perceive that expensive product is frequently to have a higher quality than a cheap one. This so called quality approach is important if the marketer wants to dress out a premium image in their product.(3) base on Use or ApplicationIn this type of strategy, a second or third position is using to expand the brands market. By introducing the in the buff uses of the product, automatically it will expand the brand market. For example, Milo for many years positioned itself as an energy drunkenness other than normal chocolate plight.(4) Based on Product ProcessUnder this strategy, the product is associated with its users or a class of users. For example, Longines, a watch brand has prescribed Aishwarya Rai as the product ambassador to develop a fashion and luxury image in their brand. In this case, the lodgeation is the moulding or celebrity will influence the products image by reflecting their image which communicated as a productuser.(5) Based on Product furcateSome products require critical positioning. For example, coffee bean powder needed to position itself with creamer or condensed milk. For example, Nescafe has positio ned itself with the instant creamer.(6) Based on Logo / SymbolSymbol or logo is being used to differentiate their brands from other competitors. Using and implementing trademarks generally follow this type of positioning. For example, Malaysian Airlines logo which is traditional kites-wau logo can be recognized by many peoples.(7) Based on competitorsIn this strategy, one or more competitors are using as a reference. Basically, the similar positioning strategy used by the competitors or use a new strategy by taking the competitors strategy as the basis. For example, Celcom has published an advertizement that compares their services with other competitors such as Maxis and Digi using the competitors embodied colors.Brand Positioning Princess Shoes iodine of the most important things in managing a brand positioning is positively compare it with competitors brand in the mind of customers in target market. Its essential for the brand to communicate the key values of the products and th e business.Princess is the Malaysian company which produces women stead for the medium price market segment. antecedently known only as a brand that only sells shoes for low income customers, but today its already expanded to medium price market segment.Princess has developed elements such as overcharge and fashion with their product and within its anomalous selling proposition. They are successfully make their own unique brand image and reaching their target customers. Their marketing documental is to reposition its brand (from normal shoes to high fashion shoes) and capturing new markets. The marketing strategy aimed to the follows Introduce the new design which is more up-to-date put forward customers excited about the brand prepare a sense of fashionable about the brand.Analyzing the marketing mix (the 4Ps) that they are implementing, basically its like the followsTarget broken and medium income women. Product Fashionable and satisfied shoes. Price Sell at cheap price . Place Sell at obtain malls and shop lots. Promotion Uses internet and newspaper publisher to announce their new products.ConclusionPositioning is how the target market defines the brand in relation with the competitors. Its what we called the brand identity.A brand is a relationship between the company and customers. When we form a relationship, we have to show who we are to our customers. Through positioning, the company should be able to communicate with the customers effectively and efficiently.One of the benefits of good business preparedness is strategic positioning especially in the modern world where technology is improving from time to time and market grow constantly and become more defined. The marketer can use the business plan with review and revision is done as and when needed,in order to keep frustrate on the right positioning.The constant budge in segmentation sometimes can happen. Take beam industry as an example, 15 years ago we have not more than 4 channels , now we have various channels under Astro. Therefore, in certain situation, some broadcasting companies have to review and revise their positioning in order to keep on being competitive in the ontogeny markets.Even when a marketer involve in the process of choosing a brand name, create design, develop promotion strategy and define the pricing strategy, they have to take to be the most crucial above all this are a good positioning.When delineate a positioning strategy, the marketer should consider how the positioning makes the brand unique and more importantly, all the qualities can be perceived as value added by the target customers. For example, if one shoes brand is hand made from rare leather, how many customers in the target market actually would see this as strength (in point of different). If they really see this as a unique point, then it can be used as positioning. Otherwise, being different cannot shoot any special attraction no value added or benefit to the brand or c ustomers. Indeed, the effort to branding a product is time consuming and positioning is just a first step to build a relationship with the customers. in front start with the brand positioning, the marketer have to see who are the competitors that already in the market before the unique positioning can be planned. By touchstone the competition, the marketer would know whether the customers in the target market already satisfied with competitors brand or on that point is any chance for another brand can take advantage of. For example, if a new brand is going to be marketed although there are 5 brands already in the market, its really important for a marketer to think how to compete. Without a strong positioning, the product will be seen as imitator or impersonator rather than a fresh new brand. The competitions allow the customers to know what they can expect from certain brand.The marketer should think how to compete by showing the different to the customers compared to other simil ar brands in the market. The key is to possess what the brand can offer as value added if the competitors have similar product offerings and know how to overcome them if the competition is likewise high.The purpose of market study is to help the marketer to realize what market and potential customers that they will targeted before making an investment. There are varieties of strategy that the marketer can use when determining positioning. The great thing about this is when the similar product or concept already in the market, the marketer can use a specific positioning strategy and identify the point of different. For example, 100 Plus is positioned as an isotonic drink brand focusing on active lifestyle while the competitor, pass by (another isotonic drinks brand) is now positioned as cola flavoured isotonic drink. They are basically the same products, the base is same which is isotonic drinks, but each of them are focusing on different positioning that giving them a competitive advantage and unique identity.Having a good product does not guarantee success. Some great products failed in the market because they cannot position themselves correctly. A marketer should think about positioning before anything else like design and packaging.As a conclusion, the positioning strategy is a must if a product needs to compete in the market. The image that creates in the mind of customer will determine whether the product can be sold because that is one of the reasons before customer make a purchase. By having the world-wide positioning strategy, the company would survive and more importantly to increase the market share and maximise the profits.Bibliographyhttp//en.wikipedia.orghttp//www.ehow.com/info_8693419_stp-marketing.htmlKotler, P., and Armstrong, G. (2004) Principles of marketing, 10th edition, N.J., Pearson Education.http//www.managementstudyguide.com/brand-positioning.htmCallin Gilliam(2010) Marketing Segmentation, Targeting and Posistioning ,p339http//www. ivoryresearch.com/nicole-johnson.php