100%(1)1 out of 1 people found this document helpful
This preview shows page 8 - 10 out of 13 pages.
Competitive Positioning ProductKnowing our target audienceNever give the customers what they need, give them what they want.People don’t buy what they need, they buy what they want. It’s the marketer’s job to discover everything they possibly can about the target audience. Such as: understanding demographics, lifestyle, and specially spending habits. These can make the difference between reaching and distancing the target audience. If you can make your product positioning feel natural and unobtrusive, it can adda massive amount of value to your marketing.Tell them who you areEstablish brand credibility which will allow the ability to establish a long-termrelationship with customers. People that trust a brand are much more inclined to purchase and remain loyal to that brand. Don’t make promises or claims that can’t be verified or aren’t true. Honesty and transparency are the best policies.Provide evidenceOne must build brand credibility by proving that the brand is reliable andtrustworthy. Thebest way to establish credibility is by presenting evidence. A few examples that can be used to great effect are customer reviews, testimonials, case studies, sales numbers, and statistics. Reviews are very powerful because everyone reads them, and friends and family tell each other about their experiences.Value Proposition
MARKETING PLAN9The value proposition needs to answer a crucial question which is: How can your productimprove the lives of your customer? Your target audience will dismiss your product in a heartbeat if they don’t perceive any value. This is the most important aspect of product positioning and one of the hardest to execute effectively. Focus on competitive advantagesAt the end of the day, what it really boils down to is building a competitive advantage.What you’re selling doesn’t matter as much as the way it’s being sold.Of course, you can’t expect to sell a product that doesn’t work and doesn’t deliver without eventually going out of business. The most important aspect is it’s the way you build a competitive advantage that willset your product positioning apart.Distribution Channel AdoptionDistribution channels:in marketing are one of the classic “4 Ps” (product, promotion, price, placement)1.Product: the product and its characteristics2.Promotion: choose methods for promoting the products3.Price: setting the price4.Place: decide how to distribute the productThere are many distribution channels that one can use. However, there are fees that are paid to those channels; therefore, the hotels make less money. There are times that the Revenue Managercan price match the price on the website of one of the channels, but it is up to their discretion whether they agree.