Bases - Market Segmentation, Principles of Marketing Video Lecture | Principles of Marketing - B Com

hello students in this session we are
going to see about positioning in our
previous slides we have seen about
already seen about segmentation and
targeting segmentation and targeting
once the market is segmented and the
target market has been visualized and
strategies have been made the most
important thing to do now is how to
position the product in the minds of the
consumer the product in other words to
make it more simple you have identified
the target market you have identified
the target market for example you have
identified the market of youngsters
youngsters loving sports now you have a
product you have a product maybe a
football you need to you have identified
this market you need to create maybe a
position in the youngsters mind that
this football will be useful for their
purpose so how to do this to do this
positioning can be because of six
different things positioning
can be based on six different things
they are first is product based on the
product based on service third is based
on channel the fourth one is based on
price fifth is based on people and the
sixth is based on image so these are the
six different lines on which positioning
can be based on let us now see each and
every individual line in detail the
first type of positioning is based on
product
it means positioning is done based on
the aspects of the product aspects of
the product here the attracting features
attraction is the product itself
attraction is product itself
something like a quality of the product
or the size of the product etc can fit
into this category can fit into this
particular category for example the
company fruity what the dirt was in
1986-87 when fruit juices
we're in large numbers they introduced
something called a tetra pack which was
very new and this has now become a hit
and everybody has started putting pet
wrap tetra Paks and fruity was the
forerunner in having tetra pack so the
product base segment I mean the product
base positioning can also include the
product usability so in any case the
product is the main attraction in this
aspect the second line of segments I
mean the positioning is the service
nowadays in this technology world
product base positioning no longer works
loosening no longer works because in in
a technology world there are many
products which have similar features
similarly you see aspects similar
quality etc so now service takes at most
importance takes at most importance
nowadays people are looking for more
service-oriented benefits because the
credibility of the company the
credibility of the company depends on
the speed of service speed of service
convenience convenience ready to use
etc so the service plays a very
important role in this example is
Domino's Pizza which which emphasizes on
service boosters emphasizes on service
more than its product itself so this is
his service based positioning in a
service based positioning since services
in tangible intangible positioning
strategies need to be very precise
positioning strategies need to be
precise because for a tangible product
you can probably order the features and
you can show the product and all this
but for service the positioning strategy
should be precise enough now the third
type of positioning which we are going
to see now is channel based positioning
channel based positioning in channel
based positioning the marketing channels
come into picture the marketing channels
come into picture this will help in
improving the competitive advantage it
will help in improving the competitive
advantage of the firm and the brand
position also gets strengthened the
brand position gets strengthened enough
through channel based positioning
strategy what is the strategy all over
in the strategy the firm's
look for firms look for channel image
channel image location
expertise expertise and performance of
the channel and the performance of the
particular marketing channel maybe a
company like Amway which practices
multi-level marketing this focusing on
the marketers or channels through which
the products go through which products
sell in this channel waste positioning
model what happens is it can impact both
direct marketing and multi-level
marketing and multi-level marketing both
can be done rather than a simple
conventional method conventional method
so this is the channel based positioning
strategy and then comes the price based
positioning this is a very common thing
price base positioning is based on price
of the product price of the product
in this marketers compare their product
price compare product price with
competitors price and say they gave the
same qua same quality for a lesser price
FMCG goods FMCG verge mobile phones etc
follow this strategy follow this
strategy in this particular positioning
strategy in when you take price as a
positioning variable it gets easily
accustomed to customer preferences
accustomed to customer preferences
because any customer will look for a
lower price which which will give higher
value most of the consumer behavior will
be like that lesser price and more value
so when you position a product based on
its price it reaches the consumer more
fast than the other types of positioning
and this is the reason why most
companies go for this strategy go for
this particular strategy now the next
line of positioning is people based
positioning people based positioning
what is this people based positioning
nowadays companies are human resource
driven companies are HR driven so even
people service these ambassadors of any
company so with companies can even
advertise their workforces the best in
the industry and based on that since
with such an of course the product will
also be good such a such a positioning
strategy is very evident in
technological era of today
technological era of today in which
people play a huge role in making the
product reached the market more far
faster for example for example any sum
any software company and IT firm boasts
of good workforce good workforce and
sells its products based on that there's
other products based on that based on
that a company like Microsoft the
company like Microsoft goes for good
people good people with good
intellectual skills and it creates a
positioning that when you say Microsoft
the first thing which comes to your mind
is technically sound human resource and
so a very good product from them so
these people based positioning the last
and final positioning line is image
based positioning image based
positioning which means
personnel and outside customers outside
customers both are targeted and image
based positioning likewise
customers if given an ad ad or a
statement that about the image
enhancement the image enhancement in
society then it is given as a very good
what we say it's a it's a good
positioning strategy or added with a
company example as Mercedes Benz people
owning bands are deemed to have very
good image in the society so this is
image based positioning in image
positioning the advantage is that
customers requiring image or customers
who are innovative they are attracted by
this positioning strategy and innovators
when I say innovators they want to be
opinion leaders they want to be opinion
leaders so image with positioning will
definitely allure them towards buying
the product and using it so that they
want to be opinion leaders for others
and they give opinions to others in the
market and they have they again some
image from doing such a thing
Hopa you would have understood about the
different lines of positioning in the
next session we will meet you with at
another topic till then good bye have a
nice day