Summary
Market positioning summary
- Institution
- PEARSON (PEARSON)
a brief understanding and summary of market positioning to help you excel in your exams.
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Topic:Market
Positioning
Theme
1:
Section
1.1
Meeting
Customer
Needs
What
You
Need
to
Know
• Market
positioning
• Market
mapping
&
maps
• Positioning
and
competitive
advantage
(USP)
• Product
differentiation
• Adding
value
Where
Positioning
Fits
into
Marketing
Businesses
use
marketing
to
create
value
for
customers
by
making
two
key
decisions:
Decision
1:
Choose
which
customers
to
serve
This
involves
two
elements:
• Market
segmentation
(analysing
the
different
parts
of
a
market)
• Targeting
(deciding
with
market
segments
to
enter)
Decision
2:
Choose
how
to
serve
those
customers
This
also
involves
two
important
parts
of
marketing
strategy:
• Product
differentiation
(what
makes
it
difference
from
the
competition)
• Marketing
positioning
(how
customers
perceive
the
product)
Market
Positioning
Having
analysed
the
market
structure
and
chosen
which
segments
to
target
–
the
next
stage
of
the
marketing
strategy
is
to
decide
how
to
compete
in
those
segments.
Marketing
people
call
this
choice
the
value
proposition.
It
is
important
to
remember
that
the
market
position
(or
value
proposition)
is
defined
by
customers
–
the
place
a
product
occupies
in
customer
minds
relative
to
competing
products.
A
useful
framework
for
analysing
market
positioning
is
a
“positioning
map”.
A
market
(or
positioning)
map
illustrates
the
range
of
“positions”
that
a
product
can
take
in
a
market
based
on
two
dimensions
that
are
important
to
customers.
Some
possible
dimensions
for
the
axes
of
a
positioning
map
include:
Dimensions
Low
price
High
price
Basic
quality
High
quality
Low
volume
High
volume
Necessity
Luxury
Light
Heavy
Simple
Complex
Unhealthy
Healthy
Low-‐tech
Hi-‐tech
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