Explain how and why positioning is important to your target

Explain how and why positioning is important to your target market, marketing strategy, and Porter\'s strategy.(250 words)

Solution

Positioning is important to target market because that is how we can position a product in the consumer\'s mind and stand out from the competitors. Since the competition in the market is high and the competitors can bring a similar kind of product as ours, it is important to create a unique style of brand positioning which will leave a lasting impression on the minds of customers so they prefer the brand everytime they need a product of a kind. Also to implement any other marketing strategy like offers and discounts, attractive packaging, or competitive pricing the initial step to be taken is to position the brand. So focussing on the target market of a product and positioning the brand in the best possible tactic is an essential tool for proper marketing.

Positioning is important to marketing strategy because while making a strategy for a product to be brought in the market one has to be very clear about what the product is offering and which customer will they target. These functions are well performed by positioning. It is the process of setting the perception in the minds of the customers about the brand and product. This is an essential step to be taken for the product to be successfully regulated in the market.

Porter\'s strategy consists of three generic approaches on which the marketing of a product or service can be deicded. The three generic strategies according to him are cost leadership, differentiation and focus. Which strategy has to be applied in marketing a product depends on the nature and need of the product. Also the competition plays a role in it. To apply any of the above mentioned strategies in introducing a product to the market, positioning is again a very essential step. To understand which strategy is required to be applied from the three will only give optimal results of the strategy implementation. So for it proper and correct positioning of product is important.