Market structure analysis . This is a study of the behavior of different target groups and factors influencing the purchasing process.
Monitoring market dynamics – determining your position in comparison with competitors in different periods, choosing effective strategies to improve the situation.
SWOT analysis is the identification of key factors influencing the results of promotion. This is how weaknesses/strengths are identified, possible threats and prospects are revealed.
By analyzing the common features of brands, you italy business mailing list can build a positioning strategy based on the qualities of the product.
Formation of the image of ideal fictitious brands capable of satisfying customer needs 100%.
Identifying product features that evoke emotional reactions in buyers and emphasizing them in the positioning strategy.
Stages of forming a positioning map:
Data collection
To correctly arrange products on the chart, it is necessary to collect information about consumer preferences by analyzing the data. For this, the following methods of collecting information are used:
conducting user surveys by telephone and via the Internet;
marketing research under real market conditions;
organizing interviews both in person and virtually;
analysis of statistical reports and work with focus groups.
The more meaningful the database is, the more visual the marketing positioning map will be. All data is converted into points, which will be used for accurate reflection on the graph.
Plotting diagrams
When developing on a coordinate plane, two key axes are used, reflecting the most significant characteristics for consumers. Possible combinations may include: "cost/quality", "cost/benefit", "prestige/necessity", "quality/design", etc. This results in four identical quadrants, where your products and competitors are placed based on the analysis of the collected data.
Plotting diagrams
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For one product group, it is advisable to construct several diagrams with different parameters for a more accurate study of the information obtained.
When performing an analysis using multiple axes, a complex diagram is created that requires specialized software. Such a map is a more complex display, but at the same time it more clearly demonstrates the relationship between key product characteristics.
Interpretation of data
The results obtained directly influence the product development strategy. For example, the company's management can decide on the competitiveness of its product and the validity of the fight for market share. Or the analysis will show the presence of an attractive unused segment, which can become the object of further research and strategic actions.
Four Potential Risks in Marketing Positioning
Threats in marketing in differentiating a company from its competitors:
Limiting the potential customer base if the brand specializes too narrowly, which may become an obstacle to increasing profits or market share.
The danger of a poor choice of strategy is that if it does not meet the requirements of the market positioning, marketing attracts only a limited number of consumers and does not provide sufficient income for the company.
Inconsistency of marketing tactics with changing requirements of the target audience, which can lead to loss of customer loyalty and losses for the company.
There is a need for effective management of advertising and promotion costs, especially when the strategy of differentiation from competitors requires the involvement of additional marketing channels and resources.
To successfully achieve goals, the key factor is the adequate formation and timely adjustment of the positioning strategy in order to minimize risks.
Typical positioning errors
The main shortcomings in the strategy of differentiating from competitors:
Underpositioning
This is a flaw that prevents customers from fully understanding the product's features. This happens because the criteria for differentiating from competitors are chosen incorrectly or are too general, obvious and clear (for example, when they think that the statement "we only have fresh products in our store" makes the company stand out, but in fact it is just one of many similar ones, and it is difficult to imagine how exactly it differs from competitors).
Repositioning
A narrow definition of consumers, resulting in a limited point of sale (e.g., claiming to be a "professional chef's store" even though its product range includes quality kitchenware that home cooks can also purchase).