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Complete 3 page APA formatted essay: Differentiation and Brand Positioning.Download file to see previous pages... This information is highly crucial to a business since it assists to give it an overal
Complete 3 page APA formatted essay: Differentiation and Brand Positioning.
Download file to see previous pages...This information is highly crucial to a business since it assists to give it an overall breakthrough and to plan itself well. If I was developing a research design, I would ensure that I include these components in my design in order to ensure that I handle all the required issues. While considering the demographics, I would tackle such factors as age of the targeted population. Evaluation of the age component is indeed crucial since. different age groups will have different needs and wants. Taking for instance, most of the individuals in the young generation are interested in the latest technology. Therefore, in order to know where to position itself, a business will need to evaluate the age of the population. Another issue that I would evaluate under demographics is gender. This is because. a business will have to decide whether to target the female group or the male group. Other demographic factors that I would evaluate include. the income and ethnicity. Assessment of the ethnicity is mainly relevant to the business since it helps in segmentation of the market. This is because. different ethnic groups will have different preferences and choices which might affect the overall demand market. Behavior components are also extremely pertinent to the business since they help it to make predictions about the reactions of the consumers towards different actions taken by the business. It also helps in understanding the consumer preferences and thus, helps the business in differentiation and branding. Some of the behaviour components to be included in the research design include. consumer reactions towards price changes, reactions towards entry of new products and effect of environmental changes (Blythe, 2008). Lifestyle components are crucial in helping the business to set its prices and position itself in the market. This is whereby if the business deals with luxurious items it will need to position itself close to consumers who lead a high lifestyle. Saxonville’s approach was indeed appropriate for this task. This is because. it considered all these issues in a detailed and an organized manner. 2) Which positioning do you recommend, and why? Brand positioning is a strategy applied by many businesses to shape the way in which consumers view the products of the business. Once a firm has already chosen its target market, it will need to define or shape the way in which the consumers view its product in their minds. Different positioning strategies have been applied by different businesses, some of which include. strengthening the current position, repositioning, out-designing and out-innovating everyone, and finding your niche in the market (Ferrell &. Hartline, 2010). However, among all these, the best positioning strategy that I would recommend for all businesses is the out-innovating and out-designing of all other businesses. This is because. all consumers usually use the concept of ‘BEST’. Therefore, the commodity that they choose to buy will be that which appears to be the best according to them. For this reason, the business should seek to be more innovative in coming up with different ideas of creating unique and appealing products.
