Positioning For Product Name Presentation MKT 421 Week

Positioning For Productnamepositioning Presentationmkt421 Wkefacu

Develop and give a presentation on the marketing mix of your current company using the “Record Presentation” feature of Microsoft PowerPoint. Submit your assignment for grading and post it to a WK4 discussion thread for review and discussion with classmates. The presentation should include an introduction, conclusion, header elements, and be structured like a formal paper, covering key marketing concepts such as positioning, competitive analysis, SWOT analysis, and perceptual mapping, with proper citations.

Paper For Above instruction

The process of effective market positioning is fundamental to establishing a company's competitive advantage within its industry. It involves crafting a distinct image and identity for a product in the minds of consumers, differentiating it from competitors through targeted marketing strategies. This paper explores the essential concepts associated with product positioning, emphasizing perceptual mapping as a tool to visually interpret consumer perceptions and inform strategic decisions.

Positioning, at its core, refers to the strategy of designing a product and its marketing mix to occupy a distinctive place in the target consumers' minds (Kerin, Hartley, & Rudelius, 2015). It requires understanding consumer perceptions and developing a marketing approach that emphasizes the unique value proposition of the product. Competitive analysis and SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) are crucial in identifying market opportunities and threats, guiding marketing efforts toward a favorable position.

Perceptual mapping is a visual technique that plots consumer perceptions of products on a two-dimensional graph based on selected attributes. The mapping process involves identifying relevant product attributes that resonate with consumers, scoring or rating competitors on these attributes, and analyzing spatial relationships among products to identify gaps or opportunities. This method enables marketers to reposition their products strategically for better market fit and differentiation.

To apply perceptual mapping effectively, selecting two significant attributes relevant to the product category is vital. For example, in a beverage category, attributes such as "nutrition level" and "flavor variety" could be used. These attributes are chosen based on market research and consumer preferences, aligning with the company’s strategic goals. Key competitors should be identified within the market to establish a comprehensive perceptual map. Scores or positions are allocated to each competing product based on consumer perception data, which can be gathered through surveys, focus groups, or secondary sources.

An illustrative example is creating a perceptual map for a new milk product targeted at adults. The axes might represent "Healthiness" and "Price," with competitors such as traditional dairy brands, plant-based milk alternatives, and premium organic milk brands plotted accordingly. Analysis of the map reveals where the product can be positioned to fill gaps or leverage existing strengths. For instance, if most competitors cluster around high healthiness but varying price points, a strategic repositioning could be to offer a mid-range priced but highly healthy option.

Analysis of the perceptual map involves understanding the placement of competitors and identifying areas for differentiation. If a product is mapped close to luxury brands but offers more affordability, it has the potential to target a different segment. Recommendations for positioning might include a focus on health benefits combined with affordability to appeal to health-conscious but budget-sensitive consumers. A positioning statement that encapsulates this strategy could be: "Providing health-conscious consumers a high-quality, affordable dairy alternative that aligns with their wellness goals."

Effective positioning relies not only on perceptual mapping but also on weaving insights from SWOT analysis. Recognizing internal strengths such as product innovation or brand loyalty and external opportunities like emerging health trends enables marketers to craft targeted campaigns. Conversely, addressing weaknesses and threats ensures resilience in competitive markets (Kerin et al., 2015).

The conclusion of this presentation summarizes the key insights gained from perceptual mapping and strategic analysis. It underscores the importance of visual tools in understanding consumer perceptions and guiding effective positioning strategies. The final message emphasizes that strategic positioning, supported by perceptual mapping and comprehensive analysis, is critical for delivering value to consumers and sustaining competitive advantage.

References

• Kerin, R. A., Hartley, S. W., & Rudelius, W. (2015). Marketing (12th ed.). McGraw-Hill Education.
• Dawar, N., & Bagga, C. K. (2015). A Better Way to Map Brand Strategy. Harvard Business Review, 93(6), 90-97.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Armstrong, G., & Kotler, P. (2015). Marketing: An Introduction (12th ed.). Pearson.
• Lehmann, D. R., & Winer, R. S. (2014). Analysis for Marketing Planning. Routledge.
• Grunig, J. E., & Hunt, T. (1984). Managing Public Relations. Holt, Rinehart & Winston.
• Silverman, G. (2012). The Secrets of Word-of-Mouth Marketing. Portfolio/Penguin.
• Porter, M. E. (1985). Competitive Advantage. Free Press.
• Chaffey, D., Ellis-Chadwick, F. (2016). Digital Marketing (6th ed.). Pearson.
• Hoffman, D. L., & Novak, T. P. (2018). Consumer and Brand Interactions in the Digital Age. Journal of Marketing, 82(4), 16–30.