This week assigned reading on Positioning, an important strategy of marketing including STP – Segmentation, Targeting, and Positioning was a great learning. Positioning determines how to position one’s product to meet each market segments so that it stands out compared to the competitors. Positioning in a market is determined by 4Ps – Product, Price, Place, and Promotion. I also learnt about the Perceptual maps and important illustration of positioning matrix. The positioning matrix with price and quality was easy to understand but the one with promotion and distribution was something new for me. The 4×4 matrix was a good learning with only two feasible options. I really like the idea presented “hard-to-sustain” and “optimal matches” which showed that lower quality and low price with heavy promotion and wide distribution, and high quality, high price, light promo exclusive distribution are the feasible options.
Should a firm change its positioning depending on the market? What are the potential advantages and disadvantages of doing this?
Yes I think depending on the market trend, a firm or a company should position its product to meet the market demand. When there is a new trend in a market, the company should always position itself to meet that trend and stay in competition in the market but it can have both pros and cons. For example, a gaming company XYZ which is a big company for computer games should position itself to suit other appliances like a tablet, phone, iPad, etc. in order to compete with its competitor.
Advantages: It allows a firm to increase sales and meet the new trend and new generation of users for better profit. Let’s compare this with Price and Quality. A company producing a high quality and high price stationery products which is a high-end product should change its strategy, if needed, to meet the market demand. If a large group of students start choosing a low price and low quality stationery products which they would need for a short time period, they should position themselves to satisfy their customers need and to make profit.
Disadvantages: The disadvantage of this may be the cost associated with creating different marketing campaigns for the new position in the market to attract customers and also chances to lose the dedicated customers. For example, if the company producing high end stationery products positions itself to attract a large mass in a new area by producing low price products, this might affect its reputation and lose the dedicated customers who know them for producing a high quality products.
Write a position statement for yourself to convince your favorite company to hire you.
For Oil and Gas companies in Texas who are looking for an experienced mid-level Civil Engineer with a Professional Engineering (P.E.) license and good management skills, I am a good candidate. I have both technical as well as managerial skills as depicted by my PE license and pursuing MBA degree required for the candidate you are looking for. If you are looking for an engineer with experiences on field exploration, lab tests, and engineering and recommendations, I am your guy!
I am two in ONE so HIRE me!