EVALUATION OF PRODUCT POSITIONING STRATEGIES FOR MARKETING INDOMIE BREAKFAST NOODLES
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EVALUATION OF PRODUCT POSITIONING STRATEGIES FOR MARKETING INDOMIE BREAKFAST NOODLES
Chapter one
INTRODUCTION
1.1 Background of the Study
In marketing, positioning has evolved to refer to the process by which marketers attempt to build an image or identity in the minds of their target market for their product, brand, or organisation.
It is the relative competitive position that their product has in a specific market, as perceived by the target audience. What we must agree on is that positioning occurs in the brains of the target market.
It is the aggregate perception that market has of a specific company, product, or service in relation to their perception of competitors in the same category. It will happen whether or not firm management is productive, reactive, or passive about the ongoing process of evolving a position.
Ries and Trout emphasise that, while positioning begins with a product, it is ultimately about positioning that thing in the customer’s mind. This strategy is required since customers are assaulted with a constant stream of advertising; the simplest way to enter into someone’s consciousness is to be first.
It is quite simple to remember who is first, but much more difficult to recall who is second. Even if the second entrant provides a superior product, the first mover has a significant advantage that can compensate for other flaws.
Product positioning refers to the position that an item occupies in the minds of consumers in terms of important features compared to rival offerings. The essence of positioning is to sell consumers something unique, different, or distinctive about our product that is different from what our competitors offer.
We want our target segment to think of our total product as occupying a distinct or different position, similar to how athletes are positioned in a race and must strive to occupy or attain a rewarding position.
Positioning is a marketing approach in which the marketer associates his product with distinctive and unique benefits that he wants consumers to view as distinct and superior to those of his competitors.
Positioning must take place in his competitors’ perceptions and minds; if the consumer does not have this perception in his mind, no positioning occurs.
For positioning to occur, the target group must perceive the company’s product as distinct in what it promises in comparison to competitors’ offerings.
1.2 Statement of the Problem
In general, there are numerous issues that arise while using product positioning. The intended product positioning appears to be the same, however putting the description into effect is difficult.
Some of the issues, however, are related to product positioning in Idomie Breakfast Noodles. Some of these issues are addressed in the study with the goal of finding solutions to them.
The ability of the corporation to categorise these customer groups. According to the originality of purchasing. The company’s positioning was centred on its product rather than on its customers’/consumers’ requirements.
The company also brags about being number one, which makes the customer believe that the company is insecure in its position because it must reinforce it by stating so.
The corporation is unaware that change is unavoidable, and a leader must be willing to conduct marketing surveys and research because there is no way to determine how effective their plan is or how customers react to their products.
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