Venture Positioning Anthony Ebow Spio

Learning Objectives Purpose of Presentation To help you establish a firm position for your venture or brand in the minds of your prospects and customers. Learning Outcome Acquire the technique to craft a positioning for your venture and product

Positioning Decision Positioning : It is the clear, distinctive and desirable place that a firm seeks itself or its product to occupy in the minds of target consumers relative to competition. E.g. E.g. Volvo perceived as car that provides safety; Mercedes Benz seen as a premium quality brand used by successful and rich people. Rolex watch positioned as trophy for achievement 16-3

Positioning of Venture and Product Value proposition is your first attempt at positioning

Market type decisions Existing Market New Market Resegmented Market 1. Differentiation along existing standards Use attributes, distribution channels and services 2. Credibility Capitalize of vision of business and passion of customers Think (1) change (2) contribution Identify a need or want gap Satisfy it by providing added value or innovation Strategies: 1.Niche 2.Low cost provider

Four Principles of Positioning Strategy Must establish position for firm or product in minds of customers Position should be distinctive, providing one simple, consistent message Position must set firm/product apart from competitors A company cannot be all things to all people—must focus its efforts

Practice on Ventures or Products with Singular Idea Company or Product or Individual Singular Idea

Developing Positioning Define the target customers or market and clarify their needs and desires. What is their problem or what need do they want us to satisfy? Defining our own products and characteristics : value proposition Define the propositioning of our competitors 16-8

Positioning Statement Positioning Statement : A written description of the position that a company wishes itself, its product or its brand to occupy in the minds of a defined target audience. It states the product’s membership in a category and then shows its point-of- difference from other members of the category. Positioning Statement “Only Beacon Books inspires and equips me to discover and exploit the gem in my life” 16-9

Brand Positioning Tool: Brand Key Vision Root Strength The original product, values and/or benefits that made the brand great and on which we want to build … what made us famous in the first place?” Competitive Environment The market and alternative choices as seen by the consumer and the relative value the brand offers in that market …. who loses when we win? ” Target The person and the situation for which the brand is always the best choice, defined in terms of their attitudes and values, not just demographics … who is our target consumer? Insight The element of all you know about the target consumer and their needs (in this competitive environment) on which the brand is founded … what is the consumer opportunity? ” Benefits The differentiating functional, emotional and sensory benefits that motivate purchase, how brand is solving the problem or improving the life of consumers …... what’s in it for them? ”

Brand Positioning Tool: Brand Key Vision Values, Beliefs and Personality The brand values - what the brand stands for and believes in - and its personality … who are we, truly, at our core? “ Product Philosophy It is based on our brand’s beliefs about product delivery and the explicit principles that underpin the brand’s product development and how we prove those principles through differentiated product and pack delivery. Is about what our product must offer and delivery and how to do it. Reasons to believe The proof we offer to substantiate the benefits/brand experience …. why should they believe us? “ Discriminator The single most compelling and competitive reason for the target consumer to choose the brand … why choose it? Essence The distillation of the brand into a core idea or promise…what is the brand idea and rallying cry?

Values & Personality Ironic Liberal Clinical Intelligent Contemporary Reasons to believe Winter wheat Import from Sweden Distilled 100 times Low iron sand Icon of modern living Benefits Stylish, Subtle Sophisticated Metropolitan Exclusive, Chic Membership Discriminator Absolut is the purest expression of sophistication Insight Every choice that I make either reinforces or undermines other people’s perceptions of who I am Competitive environment Other premium vodkas, Stolichnaya, Finlandia Target Style conscious urban consumers Enjoy going out and want to enjoy, and be seen to enjoy, premium quality products Essence Pure class ABSOLUT BRANDKEY

3.13 Sound Positioning Strategy Desirability criteria (consumer perspective) Personally relevant Distinctive and superior Believable and credible Deliverability criteria (firm perspective) Feasible : Can the firm create the POD? Profitable Communicable Sustainable: Pre-emptive, defensible, and difficult to attack

3.14 Practical Exercise 1.Pick a category basically dominated by two or three main brands. Evaluate the positioning of each brand. Who are their target markets? What are their main points of parity and points of difference? Have they defined their positioning correctly? How might it be improved? 2. Develop a brand positioning platform for your product Unilever’s Brand Positioning tool or framework.

Thank you, good people.