Study Notes for Repositioning

What is repositioning? Repositioning is the task of implementing a major change the target market’s perception of the product’s key benefits and features, relative to the offerings of competitive products. Why repositioning is used? Changes in consumer needs and lifestyles may reduce the relevancy of the product New or stronger competition in their product’s positioning … Read more…

Study Notes for Perceptual Maps

What is a perceptual map? A perceptual map is of the visual technique designed to show how the average target market consumer understands the positioning of the competing products in the marketplace. The following chart is an example of a perceptual map.   What are the Main Types of Perceptual Maps? 1. Using two determinant … Read more…

Study Notes for Positioning Examples

Main positioning categories By product attribute By user By product class Against competition By use or application By quality or value By using a combination of the above options How to choose the best positioning approach? Market gaps – is there a viable gap? Substance and support – can we deliver a marketing mix to … Read more…

Study Notes for Positioning

What is positioning? Positioning is defined as the target market’s perception of the product’s key benefits and features, relative to the offerings of competitive products. The important aspects of this definition are: Positioning is the perception held by consumers The focus is on the perceptions of the target market Only the key features and benefits … Read more…

Study Notes for niche marketing

What is niche marketing? Niche marketing is a specialized market offering focused on the needs of one tightly-defined market segment. Usually the niche marketer only offers a very limited product range to this segment. As a result, the niche marketer builds a reputation (brand equity) for being THE expert for providing their products to the … Read more…

Quick Study Notes for STP in Marketing

What is STP in Marketing? STP stands Segmentation, Targeting and Positioning STP is a process where a marketer: Segments an overall market,(segmentation) Evaluates each market segment on a set criteria, Selects the most appropriate target market/s for the firm, Then establishes an appropriate positioning in order to compete in that target market, Which would then … Read more…