This information is highly crucial to a business since it assists to give it an overall breakthrough and to plan itself well. If I was developing a research design, I would ensure that I include these components in my design in order to ensure that I handle all the required issues. While considering the demographics, I would tackle such factors as age of the targeted population. Evaluation of the age component is indeed crucial since; different age groups will have different needs and wants. Taking for instance, most of the individuals in the young generation are interested in the latest technology. Therefore, in order to know where to position itself, a business will need to evaluate the age of the population. Another issue that I would evaluate under demographics is gender. This is because; a business will have to decide whether to target the female group or the male group. Other demographic factors that I would evaluate include; the income and ethnicity. Assessment of the ethnicity is mainly relevant to the business since it helps in segmentation of the market. This is because; different ethnic groups will have different preferences and choices which might affect the overall demand market. Behavior components are also extremely pertinent to the business since they help it to make predictions about the reactions of the consumers towards different actions taken by the business. It also helps in understanding the consumer preferences and thus, helps the business in differentiation and branding. Some of the behaviour components to be included in the research design include; consumer reactions towards price changes, reactions towards entry of new products and effect of environmental changes (Blythe, 2008). Lifestyle components are crucial in helping the business to set its prices and position itself in the market. This is whereby if the business deals with luxurious items it will need to position itself close to consumers who lead a high lifestyle. Saxonville’s approach was indeed appropriate for this task. This is because; it considered all these issues in a detailed and an organized manner. 2) Which positioning do you recommend, and why? Brand positioning is a strategy applied by many businesses to shape the way in which consumers view the products of the business. Once a firm has already chosen its target market, it will need to define or shape the way in which the consumers view its product in their minds. Different positioning strategies have been applied by different businesses, some of which include; strengthening the current position, repositioning, out-designing and out-innovating everyone, and finding your niche in the market (Ferrell & Hartline, 2010). However, among all these, the best positioning strategy that I would recommend for all businesses is the out-innovating and out-designing of all other businesses. This is because; all consumers usually use the concept of ‘BEST’. Therefore, the commodity that they choose to buy will be that which appears to be the best according to them. For this reason, the business should seek to be more innovative in coming up with different ideas of creating unique and appealing products. In this way, it will be remarkably easy to create consumer loyalty since the consumers will have fixed in their minds that the products of that business are unique and of high
Differentiation, Branding and positioning Name: Institution: 1) If you were developing a research design, what behaviors, demographics and lifestyle components would you include? And why? Was Saxonville’s approach appropriate for the task? In today’s business world, a person seeking to start a business will need to evaluate a number of issues in the market…
The product category chosen for the project are chocolates. The chocolate industry is at a growth stage and is expected to increase in the future. The global chocolate market is expected to grow by CAGR 2.7% from $83.2billion in 2010 to $98.3billion in the year 2016.
Founded in 1906, it is a business organization with vast marketing experience of over a century hence having an advantage over the rest the competitors in the market. The Xerox Company has developed different brands in the market, done sales promotion and therefore has been able to win customer loyalty thus boosting its sales and revenues.
It is the procedure by which the marketers create an identity or image about the product, brand and the organization in the mind of the target market. Successful brand positioning is dependent upon the identification and communication of the uniqueness and differentiation of the brand.
But instead of hot irons, brand marketing burns its mark upon consumers by creating impressions that make the brand stand out among so many brands in the market competing for their attention. This paper discusses what it takes to develop a successful brand positioning by describing a brand personality, the common characteristics and attributes of the more successful brands and the role and nature of brands as they relate to the need to reinforce and sustain a brand's image over time.
A decade or so ago, branding meant little to people. Branding until then simply involved designing a logo or creating a corporate profile that will help identify it and differentiate it from other brands. In the past decade, things on the branding front have undergone a sea change.
DaVita from its good service, customer support service and with competitive prices has achieved this. The advertisers and marketers say that they would be able supply anything to customers what they want. It may be right to say that marketers and advertisers are in a position to meet the desires of customers up to some level.
Brands that were in the front line in the past and had ruled the scene once are there today for the sake of it. There a long list of such brands that have a glamorous history but today they are desperately waiting for a buyout, restructuring,
The global chocolate market is expected to grow by CAGR 2.7% from $83.2billion in 2010 to $98.3billion in the year 2016. The Asian chocolate market is the driving sale and likely to hold about 20% of the market share of the global chocolate market in 2016 and sales of
a cancer centre which is considered or known as one of the three original cancer centre in United States and it has been established with the National cancer Act in 1971. The founder of this cancer centre is Monroe Dunaway Anderson. Positioning strategy is considered as the
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