Similarly, product positioning is an important element of a marketing. Product positioning is the process marketers use to determine how to best communicate their products' attributes to their target customers based on customer needs, competitive pressures, available communication channels and carefully crafted key messages. Effective product positioning ensures that marketing messages resonate with target consumers and compel them to take action.
Even companies, who have mass marketing phenomena, are now adopting this new world’s strategy i.e. segmentation. The purpose of segmentation is the concentration of marketing energy and force on subdividing to gain a competitive advantage within the segment. It’s analogous to the military principle of concentration of force to overwhelm energy. Concentration of marketing energy is the essence of all marketing strategies and market segmentation is the conceptual tool to help in achieving this focus. The marketer must try to understand the target market’s needs, wants, and demands. Need can be described as basic human requirements. People need food, air, water, clothing, and entertainment. These needs become wants when they are directed to specific objects that might satisfy the need. An American needs food but wants hamburger, French fries and a soft drink. Wants are shaped by one’s society (Kotler, 2000)..
Strategically, the business must be centered on the customers more than the products. Although good and quality products are also essential, the buying public still has their personal preferences. If an organisation targets more of their needs, they will come back again and again and even bring along recruits. On the other hand, if an organisation push more on the product and disregard their wants and the benefits they can get, the organisation would potentially lose customers in no time. Unfortunately, getting them back would be the hardest part.
The process of dividing a market into meaningful, relatively similar, identifiable segments or groups
Marketing is a very important aspect in business since it contributes greatly to the success of organizations. Production and distribution depend largely on marketing. Marketing covers advertising, promotions, public relations, and sales. It is a process of introducing and promoting the product or service into the appropriate market(s) and encourages sales from the buying public. Since the goal of marketing is to make the product or service widely known and recognized to the market, marketers must be creative in their marketing activities.
Today where the world is being recognized as global village marketing has become vital ingredient for every business success. It is almost become difficult to every competitor to survive in market for a prolonged period because competition is cut to throat. Change or die is the core faith of marketing. Therefore, marketing has powerful potential to contribute to the highly important aspects of the organisational competitiveness, namely innovation (Kerin, 1992) and competitive analysis (Varadarajan, 1992).
Effective marketing strategies or marketing campaigns often consist of a combination of several marketing tactics that work together in a synergistic way to establish brand, reduce sales resistance, and create interest and desire for products and/or services. Therefore, carrying out market segmentation, targeting and positioning are important elements of successful marketing.
This means that the business will
need to develop an appropriate
marketing mix for each segment.
Market segmentation enables a
• accurately defi ne its markets;
• position products and services to
match the demands of particular
markets and segments;
• identify gaps in the market that it
could fi ll;
• make more effi cient use of its
According to Cartwright (2002), need is something that...