bmw positioning
TRANSCRIPT
Consumer Perception:Product Positioning
Prepared by:
Stanley Lee
Sam Weng Cham
Chloe Li
30th August 2010
Perception
• The process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world
• How we see the world around us
• Perception through ‘Positioning” in advertising
Marketing Strategy
TargetingTargeting
*Positioning**Positioning*
SegmentationSegmentation
Positioning
• Establishing a specific image for a brand in the consumer’s mind
• Product is positioned in relation to competing brands
• Conveys the concept, or meaning, of the product in terms of how it fulfills a consumer need
• Result of successful positioning is a distinctive, positive brand image
Why Develop Product Positioning Strategies?
• Marketing concept: holds that the key to achieving organizational goals consists in determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors.
• Sustainable competitive advantages (SCAs) -- aka “differential advantages”
Developing and Communicating a Positioning Strategy
• Positioning: The act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.
• Value proposition: a cogent reason why the target market should buy the product.
Writing a Positioning Statement
– Positioning statement format: “To (target market and need) our (brand) is (concept) that (point of difference)”
BMW’s WebsiteBMW’s Website
Other examples of Positioning Statements
• Technical Excellence: BMW – “The Ultimate Driving Machine” & “Joy”
• Safety & Excitement: Volvo – “Volvo for Life”
• Prestige: Mercedes Benz – “Unlike any other”
• Performance: Jaguar – “Drive to Perform”
• Economy: Kia – “The car that cares”
• Futuristic: Infiniti – “Accelerating the future”
Quotes“ Positioning is not what you do to the product, but
what you do to the mind”Jack Trout,
Positioning: The Battle for your Mind, 2000
• Can a product be successfully positioned in customers’ minds as being more desirable than the competition given the “level playing field”?– Coke vs Pepsi– BMW vs Mercedes– Amazon vs Barnes & Noble
• Is the battle for the customers’ mind in positioning strategy really only about information?
Product - BMW
• Wide selection of models
• Different styles to meet the customers needs
• BMW Universal Bluetooth
• iPod with BMW• BMW accessories
CompetitorCompetitor
Product classProduct class
Attributes or benefits
Attributes or benefits
Productuser
Productuser
Price and qualityPrice and quality
Use or applicationUse or application
BB
AA
CC
Six Approaches to Positioning
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Attribute or Benefit Associating the brand with a desirable
attribute to target audience Most frequently used positioning strategy BMW- uses continuous innovation. As an
example we have an innovation of a completely redesign the 3-series model with even better power than ever before, a stiffer suspension, taillight lenses.
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Usage Occasions or Application A kind of positioning stresses when or how
your product is used by target audience BMW- Young urban professionals usually
drive these luxury cars. It is a question of a status and is associated with it.
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Product User Focusing on the unique characteristics of
specific users can be effective Establishing the brand as the choice of
professional BMW- has maintained its leadership brand
positioning for many years. Its success is the result of a consistent strategy and is oriented towards meeting the needs of customers.
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Product or Service Class Comparing your product to a product in a
different category can be an effective way to differentiate yourself
BMW – cars communicate valued differences and distinguish it from other competitors by image (described as a premium brand), quality (uses cutting edge technology) and design (very sleek and unique)
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Competitor Against a Competitor
Positioning your product directly against a competitor’s typically requires a specific product superiority claim
Away from a Competitor Positioning yourself as the opposite of your competitor
help you get attention in a market dominated by other product.
BMW- There is a sign of a little comparison between BMW and her competitors but the ads don’t usually show it. It is only in minds of customers who tend to compare these two cars quite often.
Six Approaches to Positioning
Consumer Perception: Product Positioning
• By Price or Quality A product to be priced at the right level to
reflect the quality offered BMW- In this case searching for the best
possible value is a little complicated because cars like BMW has ranked on a high-end price level and are relatively expensive and therefore their customers are usually well off people.
Referencing
Consumer Perception: Product Positioning
• http://www.otmmarketing.com/Portals/42226/docs/product_positioning.pdf
• http://tutor2u.net/business/presentations/marketing/productpositioning/default.html
• http://ezinearticles.com/?Product-Positioning-Strategies&id=474245• Jack Trout, Positioning: The Battle of your Mind, McGraw-Hill, 2000• http://www.bmw.com/com/en/insights/technology/joy/bmw_joy.html