- Published: November 16, 2021
- Updated: November 16, 2021
- University / College: Oklahoma State University
- Language: English
- Downloads: 38
Positioningis all different concepts. it’s more psychological than materialistic. So far company have only seen customers as having a need. In line with theirneeds, they also have priority.
Likewise we have seen the market as a singleplayer that provides different products to people with different needs. In a competitive market, many players will operate and offerdifferent products in each segment are available. In their presentations, each of them must provide certain must-havefeatures to stay in segments and some unique features to differentiate them. Itis the process of putting an offer in the most favored position in the mindcustomer.
Priority may be due to quality, user experience, brand image, price, performance and anything else. There are several reasonwhy market segmentation, targeting and positioning strategies become a veryimportant marketing plan. First, segmentation divides buyers into groups thathave the same needs and want to leverage limited of resource companies throughbuyer-based marketing while attract the right customer to consume the companyproduct. The STP process will reduce the risk in determining where, when, how, and to whom the product will be marketed.
The efficiency of STP helps in the customerretention and improve customer delight level. The importance for anorganization itself is reduce the cost of the company by not marketing theproduct where its not required too much as usual. Every buyer or consumerhave their own unique needs and wants. Each of them is potentially a separatemarket. Preferably, the seller may design a separate marketing program for eachbuyer.
However, while some companies try to serve individual buyers, many othersare face smaller buyers and cannot find a complete segmentation. Instead, theyseek a wider class of buyers that differ in their product requirements or buy aresponse. Acompany that practices a marketing segment segregates the broad segment thatforms the marketplace and adjusts its bids to be more closely with the needs ofone or more segments. The market segmentation can be doneat different levels such at Figure 3 below. The level of marketsegmentation that Procter and Gamble can practice a no segmentation which is massmarketing, the complete segmentation or micromarketing, or something in betweenmeans the segment marketing or niche marketing. Figure 3 : Level of MarketSegmentationSo, the important part in the stepsin market segmentation is identify bases for segmenting the market and developthe segment profiles. Targetpopulation of once company includes their quality and standard conscious ofconsumers group which start from the middle until elite class.
There aredifferent products that are introduced purposively to keeps the view of demandsof the company target market. Its target market is every household. The targetmarket of Procter and Gamble categories such are women between the ages of 11to 49 which are experiencing their menstruationto consume the product. Then, Procter and Gamble always target girls categoryof customer who are just Stepping In, preteens around the 11 to 17 year olds. It is point of market entry between ages of 11 to establish a long termrelationship with them.
Furthermore, Procter and Gamble ensuring that theircompany has always been their FemCare choice when they enter womanhood. Thismeans target marketing step is to develop the measure of segment attractivenessand a way to company select the target market. Procter& Gamble is well known for its brands.
A brand is an image or what’s oncustomer mind about the name of product which is brand impressions as a majorinfluences for purchase decisions. Customers form product trails whenever theycome into contact with them. Once a product or company is in the market, italready have a brand, whether customer want it or not. Public thoughts andbeliefs encourage their actions. The goal of interacting with customers is toencourage them to create a brand of impression in their minds motivating themto act in ways that help company product. The great brand understands that itis not necessarily to please everyone, in every way, all the time. Instead theyrely on a clear segment market where they can serve basic customers moremeaningfully because of their unique attributes. Positioning strategy is a plan orintentional branding process that operates at the level of symbolic consumerawareness.
Its meaning and association even individual words that really holdthe weight. The market positioning strategies are built on the data of business. This strategy purpose is to accurately compose words to offset the concept of theproduct differences and similarities. It is a long-termeffort to strengthen the identity of a company and its products in a uniquespace in the minds of the target market. It was atrial order for brands to differentiate themselves from the public and affectthe way they see the target customer.
Procter and Gamble uses completelydifferent advantages market to develop various brands to meet various marketneeds segment based on their understanding and also understand the market andusers across the country. So, in the market positioning, the important part ishow company wants to develop the positioning for the target segments and find away to develop the marketing mix for each segment. Designinga marketing mix includes products, prices, places, and promotions-basicallyinvolves tactical details of positioning strategies. Therefore, firms thatdominate the “ for more” position know that it must produce high qualityproducts, charge high prices, distribute through high quality traders, andadvertise in high-quality media.
It must hire and trainmore service people, find a retailer that has a good reputation for service, and expand sales and advertising messages to exhibit superior service. This isthe only way to build the consistent and believable.