Marketing Analysis
Marketing Analysis
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Marketing Analysis
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
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
Your name
Class
Instructor
Date
Marketing Analysis
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
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
References: Campbell, D.; Stonehouse, G.; Houston, B. (2002). Business strategy: an introduction. Retrieved from Google books. Evans, M.; O’Malley, L.; Patterson, M. (2004). Exploring direct and relationship marketing. Retrieved from EBSCOhost online database. Nykiel, R. A. (2007). Handbook of Marketing Research Methodologies. Retrieved from Google books.