It takes hard work to create image of the company or brand or products in a given market as noticed by a target market. Whether marketing a piece of merchandise, a service, a company or even a person, positioning is crucial to the success of any product. Positioning of that product is about how you get into the mind of the prospective customer. You must first get into a prospect’s mind and then occupy that space. When positioning a product, you want the prospect to recognize that your product is created especially for them. This paper will identify different types of analysis used by marketers to find out product positioning, competitive positioning, customer perceptions and distribution-channel analysis. It will compare the strengths and weaknesses of each method and asses the different types of marketing analysis required to develop a marketing strategy.
Product positioning can be expedited by using graphical techniques called perceptual mapping, other different survey techniques. “Statistical techniques such as factor analysis, multi dimensional scaling, logic analysis, and conjoint analysis also determine position of a product in a market” (Evans, et. al, 2004). Positioning is therefore the process of designing an image and value so that consumers within the target segment understand what the company or brand stands for in relation to its competitors. In doing this, the organization is sending a message to consumers and trying to establish a competitive advantage that it hopes will appeal to customers in the target segment. In essence, therefore, the marketing mix can be seen as the tactical details of the organization’s positioning strategy. Where, for example, the organization is pursuing a high-quality position, this need to be reflected not just in the quality of the product or service, but in every element of the mix, including price, the pattern of distribution, the style of advertising and the after-sales service. Without this consistency, the believability of the positioning strategy reduces dramatically.
When detailed marketing research is done then methodological problems can arise. If the company needs to collect some quantitative information, for instance opinion or facts through a researcher administered survey; interview or questionnaire. Surveys are very effective of collecting information and they are standardized, so they are free from any errors. While on the other hand, there are few disadvantages of surveys, like “depending on subjects and the reasons for an action cannot be known; they don’t give full sense of social processes making the analysis superficial; structured surveys with close ended questions have low validity when affective variables are researched.
To evaluate the product, in factor analysis, the features of product can be used. Also quantitative marketing research techniques can be used. Quantitative research is about quantifying relationships between variables. From marketing prospective, quantitative research is most useful in gathering measurable information that can be tracked over time. This is helpful to the marketer because the comparisons help delineate not only the advantages and disadvantages but also the applications most appropriate for various research purposes. Factor analysis is inexpensive and accurate.
Multidimensional scaling (MDS) and other statistical techniques can be used in marketing and social sciences. It can be used to build perceptual maps. These procedures involve algorithms that start with measures of similarity between pairs of products and try to find a geometric representation of the brands in the product category. These techniques position products that are perceived as similar close to one another and locate dissimilar products far apart. Dimensions of perceptual maps are not named by the...