The Marketing Process (STP)

The Marketing Process Previously we talked about the first two steps in the marketing process 1)Segmentation Splitting the population into groups (based on shared characteristics) 2)Target Market Choosing a specific group that the business wants to capture Product/Service will fulfill a need or a want

The Marketing Process Today, we are going to explore the third step

Positioning – 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

Positioning BRAINSTORM: How do different businesses position themselves in the market?

Positioning Price Quality Speed History Innovation Service Expertise Customer Service Convenience Comfort Style Selection Many, Many More!

Positioning To help yourself think of ways that businesses position themselves fill in the blanks People go to Company A because it is ____________ than Company B Example 1 - – People go to Wal-Mart because it is cheaper than Sears Example 2 – People go to Future shop because it has _____________ than FM Audio.

With a partner: Think of one business that positions itself by: Price Quality Speed History Innovation Service Expertise Customer Service Convenience Comfort Style Selection

Position Map Places competing businesses on a grid that evaluates those businesses on 2 different criteria – Example: Price and Quality High Price Low Price High Quality Low Quality

Positioning Map

Together: Restaurants (Speed vs. Quality) – McDonalds, Kelsey’s, Keg, Wendy’s, Subway, My Thai, Boston Pizza, Fast Eddy’s Individually: Cars (Price vs. Quality) – BMW, Toyota, Volkswagen, Mercedes, Ferrari, Cadillac, Ford, Mazda, Audi, Chrysler, KIA, Honda, Lexus,

Positioning Map – Gaps? Choose an industry other than restaurants and cars and create a position map with a min of 5 competitors Include a half page write up explaining your map and suggesting if there are any gaps in the map available for companies to exploit