Determining position effectiveness
How does the management of a company know that they have best location scheme? How does the management come to know that the company will get expected results from the targeted marketing program scheme? How the company will get the market share, growth in prices, buyer’s satisfaction and opposing advantage result? Yet developing a company position scheme is not easy. Because companies do not develop their location scheme on frequent basis, yes the adjustments will be happen on the stage of product market maturity, in response to environmental changes and on opposing forces but it does not mean that company is developing frequently.
After the success of the product, the company has the right to change their product scheme but not their location scheme because it is not easy for any company either they produce their products on a large scale or on a small scale. The position of a company plays an essential role in the brand’s quality of a company. Sometimes some errors are involved in the location scheme after the success of product. These location errors include; UNDERPOSITIONING: Under positioning can happen when the buyers do not have certain ideas about the company and its product and do
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OVER POSITIONING: This over positioning can happen when the buyers do not aware that how much money should be spent on the product because that product is available in market in much cheaper rates. So buyers have made their narrow thinking about the company, product or brand. CONFUSED POSITION: Confused positioning happens in buyers when the frequent changes take place in the location of the brand. So buyers do not realized that this product is good for them or not. DOUBTFUL POSITIONING: A product loses its credibility when claims are made on it. POSITIONING AND TARGETING STRATEGIES:
When management takes a decision to target several segments then the positioning scheme becomes challenging. The main goal of management is to develop an appropriate positioning scheme for each segment. The way of focusing positioning scheme should be used for each targeted segment. The brand positioning is the area where employees give their services and solve the problems of the targeted customers. If a company is on the correct location then it gives more benefits and gets differentiated from others which are necessary for attracting the buyers (BrandXpress blog, 2005).
The quality of a brand is very important because it guides the marketer in the positioning of the brand comparable to other competitors. At that place the marketing team should communicate with each other and make brand scheme. Brand positioning enables a company to create bond between label and buyers. When a company gets the way of right market for its brand, the most important thing is to find out how to attract customers to buy your brand. There are nine types of positioning which helps marketers to decide that which one they should attach to their brand.
1. QUALITY POSITIONING: The most important thing is the understanding of the brand which should be combined with any of the instance below. Buyer should know about the quality, the marketer should try to build powerful understanding, and he will succeed in developing a strong brand. The best way in which one understands the quality of the brand is to narrow the company’s focused which is very important. Other way to create the understanding of high quality is simply to attach a tag of higher price with the brand.
Sometimes people think that they know about the quality of the product but in reality that is wrong because the things are not always as they seem. Believe it or not, but sometimes high price is the source of satisfaction for some customers. The product needs some difference to justify the higher price. 2. VALUE POSITIONING: Now the labels are considered as worth, which makes the consumer popular. The best example of giving discount to their buyers and still maintaining their strong brand identity is HSBC. Even, most of major banks supervene the bank’s lead. 3. FEATURE-DRIVEN POSITIONING:
Most sellers trust on the characteristics of the brand to differentiate with the other. They get the advantage of clear messaging and believable positioning of the product. If the competition is on the more advanced model then the feature-oriented position are often cause to be useless. 4. RELATIONAL POSITIONING: The effective way to develop the interest in the brand is to write a positioning instant that sounds good. 5. ASPIRATION POSITIONING: If the positioning instants offer a place which is beyond the customer’s expectation then obviously every customer like to go there, they like to be that kind and they want to get it.
6. PROBLEM/SOLUTION POSITIONING: As the name suggests, problem/solution instant shows the consumer that this situation can be rapidly and easily with the brand. 7. RIVALRY-BASED POSITIONING: By definition, position is the thought of brand relative to the competitor’s brand. Hence, many companies go towards the idea of rivalry-based position but it is unnecessary. 8-WARM AND FUZZY POSITIONING: Today we are still tame and emotional animals. Most of the times we follow our emotions. Usually the marketers play with our feelings.
In the book, Building Brand Identity: A Strategy for Success in a Hostile Marketplace, author Lynn Upshaw writes, “Emotional and psychological approaches are very effective as positioning instant because the feel about brand is often times need or desired based. How people feel about a brand is oftentimes need- or desire based, which means that emotional or psychological approach can oftentimes be very effective as positioning instant. ” 9. BENEFIT-DRIVEN POSITIONING: The strategy of the brands depends on their complete positioning in which they give back to the purchaser.
They discover Credit card for the flexibility of customer. By using this card we get our money back. The two major companies discovered it for their users to give them financial motive for using. Positioning based on the customer’s understanding of product, services and organizations. The positioning and employee branding are the confused matter for the customers because they understand that the firm’s employees are linked with its offering product. That is why employee branding is directly affected on the positioning scheme.
To solve this matter, the use of employee branding process is effective for the position of HSBC and its offered services. EMPLOYEE BRANDING AND HSBC: A winning combination; Employee branding depends on the previous experience. General practitioner concentrates on the employee branding and on its result while the discourse did not concentrate on its importance because according to them its conceptualization is wrong. It was clearly defined when 2004 Journal of Relationship Marketing article (Miles & Mangold, 2004) as,” the process of making desired brand image and then put this image in the minds of customer and other organizations.
” This idea helps in gaining the competing benefit through employee branding process. By this work we also gain an organizational position in the minds of people. Organization’s mission and values plays a key role in employee branding process and identifies the knowledge of employees in undertaking the image of desired brand into others mind. Employee branding plays a role of positioning tool in the process of desired brand image and this process is used for gaining the competing benefit. References Aaker, David, (1994).
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