Brand Positioning and Repositioning Free Essays

Research Proposal # 1 Name of The Research Proposal: Brand Positioning Repositioning Brand Positioning In marketing, Positioning has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. Generally, the Brand positioning process involves: 1. Defining the market in which the product or brand will compete (who the relevant buyers are) 2. We will write a custom essay sample on Brand Positioning and Repositioning or any similar topic only for you Order Now Identifying the attributes (also called dimensions) that define the product ‘space’ 3. Collecting information from a sample of customers about their perceptions of each product on the relevant attributes 4. Determine each product’s share of mind 5. Determine each product’s current location in the product space 6. Determine the target market’s preferred combination of attributes (referred to as an ideal vector) 7. Examine the fit between: oThe position of your product oThe position of the ideal vector 8. Position. Characteristics of Brand Positioning Brand positioning strategy is important to develop in order to get to number one in a customer’s mind for your products or services. If you don’t develop a plan, customers won’t think about you when they go to make a purchase. This is sure to lead to low sales and, ultimately, business failure. Here are some characteristics of brand positioning strategy that anyone can use for business: Unique Benefits What benefits does a customer gain from buying your product or services? It’s not enough to develop a generic benefits list that all of your competitors offer. What unique benefits do you offer? This takes diligent research of the competition, as well as prospective customers. Your brand positioning strategy has to revolve around your customers, and what they will benefit from a relationship with your business. Otherwise, they’ll go to the competition, where they perceive they can get the most for their money. Quality Products or Services The Internet has made it easy for customers to get low prices, and harder for you as a home based business owner to beat larger competitors. However, you can still occupy a higher position over large service firms and product stores by building a brand image that highlights quality products or services. For example, if you’re a freelancer, you may not be able to compete on price with freelancers from other countries. However, if you’re known as a freelancer who offers quality services, you’ll gain a higher brand position than low-priced competitors. You might even be able to charge higher prices for higher quality services, and the higher price may help build that perception that you’re offering quality, whereas your competitors are not. Great Features You need to think through the features of your products or services that would make customers choose you in the first place, and use it in all of your advertising strategy. Take the time to write a product or service description for everything you offer. Cross out the ones that don’t meet the threshold of a great feature. Even if you only have one or two points about your product or service that qualifies, you can use that to differentiate yourself from the competition and boost sales. For example, if you’re selling a home security system on Ebay, it’s not enough to highlight the fact that it comes with 4 cameras and a DVR. Every similar home security system does, and your customers have no reason to buy from you, rather than someone else on Ebay. However, you could highlight that the security system ends images in real time to your email. Now your product is more compelling to consider, and you’ll get more sales, even from a competitor that offers a cheaper price. Problem Solver A brand positioning strategy that works well, especially during hard economic times, is positioning yourself as a problem-solver. You want to focus on offering the very best solutions for the problems your target market faces. You r customers will associate your ability to problem-solve with your ability to save them time, money and pain, which will keep them with you and not the competition. When you use these major characteristics of a brand position strategy, you can improve sales and your financial bottom line. If you don’t take the time to work on a strategy, your business won’t do as well, and your marketing efforts will be counter-productive. Types of beverage Water Drinking water or potable water is water of sufficiently high quality that it can be consumed or used without risk of immediate or long term harm. In most developed countries, the water supplied to households, commerce and industry is all of drinking water standard, even though only a very small proportion is actually consumed or used in food preparation. Over large parts of the world, humans have inadequate access to potable water and use sources contaminated with disease vectors, pathogens or unacceptable levels of dissolved chemicals or suspended solids. Such water is not potable and drinking or using such water in food preparation leads to widespread acute and chronic illnesses and is a major cause of death in many countries. Reduction of waterborne diseases is a major public health goal in developing countries. Alcoholic beverages An alcoholic beverage is a drink that contains ethanol, commonly known as alcohol (although in chemistry the definition of â€Å"alcohol† includes many other compounds). Beer has been a part of human culture for 8000 years. [1] In Germany, Ireland, the United Kingdom, and many other European countries, drinking beer (and other alcoholic beverages) in a local bar or pub is a cultural tradition. [2] Non-alcoholic beverages Non-alcoholic beverages are drinks that usually contain alcohol, such as beer and wine, but contain less than 0. 5% alcohol by volume. This category includes low-alcohol beer, non-alcoholic wine, and apple cider. Soft drinks The name â€Å"soft drink† specifies a lack of alcohol by way of contrast to the term â€Å"hard drink† and the term â€Å"drink†, the latter of which is nominally neutral but often carries connotations of alcoholic content. Beverages like colas, sparkling water, iced tea, lemonade, squash, and fruit punch are among the most common types of soft drinks, while hot chocolate, hot tea, coffee, milk, tap water, alcohol, and milkshakes do not fall into this classification. Many carbonated soft drinks are optionally available in versions sweetened with sugars or with non-caloric sweeteners. Hot beverages A hot beverage is any beverage which is normally served heated. This may be through the addition of a heated liquid, such as water or milk, or by directly heating the beverage itself. Some examples of hot beverages are: †¢Coffee-based beverages oCafe au lait oCappuccino oCoffee oEspresso oFrappe oFlavored coffees (mocha etc. ) oLatte †¢Hot chocolate †¢Hot cider oMulled cider †¢Gluhwein †¢Tea-based beverages oFlavored teas (chai etc. ) oGreen tea oPearl milk tea oTea Herbal teas oYerba Mate †¢Roasted grain beverages oSanka Miscellanea Some substances may be called either food or drink, and accordingly may be eaten with a spoon or drunk, depending upon their thickness and solutes. †¢Buttermilk †¢Soup †¢Yogurt Beverage industries in Bangladesh Bangladesh Beverage Industry: In Bangladesh the beverage industries a re playing a great role in the economy. The beverage industries involves those companies and products that are given below, The soft drinks market in Bangladesh consists mainly of seven companies. 1. Abdul Monem Limited (Coca-Cola, Sprite, Fanta). . Agriculture Marketing Company Limited (Pran). 3. Akij Group (Mojo, Lemu, Frutika). 4. Global Beverage Limited (Virgin). 5. Globe Soft Drinks Limited (Uro Cola, Uro Lemon). 6. Partex Beverage Limited (RC Cola, Lychena). 7. Transcom Beverage (Pepsi, 7up, Mirinda). Of these, Pran and Mojo are the only local brands. Coca-Cola, with its three varieties, namely, the cola-flavored Coca-Cola, the clear-flavored Sprite and the orange-flavored Fanta, is the number one soft drink producer in Bangladesh, as well as all over the world. Closing in on Coke is rival Pepsi. Pepsi is one of the oldest brands in Bangladesh. Pepsi first arrived in Dhaka in 1976 with the cola-flavored Pepsi, the clear-flavored 7up, the orange-flavored Mirinda and later introduced the mango-flavored Slice. Pran, on the other hand, started with jam, jelly and pickle. In 1995, it started producing mango bottled juice, and is currently operating all over the country. Virgin is renowned worldwide through its brand name. It was introduced in our country by Global Beverages Ltd. RC Cola entered the Bangladesh market in 1997, and was the first to introduce the cloudy lemon flavor. It has not been long since Akij group brought out Mojo and Lemu. They have already gained huge popularity. The recent success of Akij group is Frutika, which delivers the promise of no preservatives. Characteristics of beverage that constitute brand There should have some unique characteristics of particular product to constitute as brand in the market. A product should have some feature that gives value to the consumer. Brand attributes consist of ‘bits’ of information that are linked to a brand name in consumer memory and that, when combined with the brand name, make up brand’s image. Product attributes are the benefits of products, and these Benefits are the surface means used in advertisement and promotion offer to connect the brand with a motivation which influence brand attitude. Perceived quality is defined as the consumer’s judgment about a product’s overall excellence or superiority. Attributes, Taste/Flavor, Digestion, Calorie Content, Sugar Content, Pungency, Price, Color, Hygiene, Brand Image and Power of Freshness were taken into consideration for constituting brand. How to cite Brand Positioning and Repositioning, Papers