Positioning Flashcards
What is positioning?
The act of designing a companies offering and image so that they occupy a meaningful and distinct competitive position in the target customer’s minds.
Key tasks in positioning
Market segmentation
Target Market
Differentiated advantage
Name 4 positioning options
Premium quality
High price
Differentiated
Customized
Positioning problems
Under positioning
over positioning
Confused/ unclear positioning
Doubtful positioning
What is positioning?
Arranging for a product to occupy a clear, distinctive and desirable place relative to competing products in the minds of target consumers.
Define differentiation
Actually differentiating the market offering to create superior customer value.
What is the marketing mix?
The set of tactical marketing tools - product, place, price, and promotion - that the firm blends to produce the response it wants in the target market.
What are the four P’s of the marketing mix
Product, Price, Promotion, and place
Service intangibility
Services cannot be seen, tasted, felt, heard or smelled before they are bought.
Service inseparability
Services are produced and consumed at the same time and cannot be separated from their providers.
What are the four service characteristics
Intangibility | Inseparability | Variability | Perishability
Variability
Quality of service depends on who provides them and when, where and how.
Perishability
Service cannot be stored for later use
