COMMUNICATING THE VALUE PROPOSITION TO TARGET CONSUMERS
The firm is trying to secure a place for its product in the consumerâ€™s mind by positioning. So a major task is to communicate to the target audience the distinction, which your product offer claims. In fact, once the value proposition is decided, the crux of the positioning job lies which marketing communications. In Market Segmentation and Market Targeting, a firm decides its target market. In fixing the positioning, the firm is bridging the product with target market. All the other Ps namely Price, Place (Channel) and Promotion support the positioning task, with the brunt of the responsibility taken up by marketing communications/promotion.
In a well-orchestrated product strategy, advertising and promotion are the extended stages in the total product positioning exercise. The burden of marketing communications in general and advertising in particular, is to see that the product offer and the value proposition that goes with it, properly carried and delivered to the consumerâ€™s attention. In fact, quite often, product failures are traced to inept communication while launching these products, their positioning and the value propositions thereof are not communicated properly to the target audience.
It is the job of advertising to communicate effectively the positioning, which the firm seeks. The media, the message, the source, the headlines and the display all have to be blended appropriately so as to effectively communicate the position one is seeking in the mind of the consumer.
An effective ad is one that clarifies successfully the positioning of the brand. Extending the logic further, one can even say that if from an ad we cannot isolate the three components, target market, value proposition and the supporting product differentiation, the ad is deficient. It may also imply that the marketing team is not clear about positioning of the product and hence their brief to the ad agency is deficient. In either case, advertising fails in its basic purpose.
The burden of advertising is to see how best and how imaginatively and convincingly the product positioning can be taken to the target audience. This linkage between positioning and advertising will be handled in detail on Advertising Management.
Main Elements in the Positioning Task
Â· Relate and link your positioning to your differentiation theme. Differentiation and positioning are to be employed in alignment; differentiation is actually the prelude to positioning.
Â· Find out the positioning gaps in the product category and the attributes that can fill them in the minds of the consumers.
Â· Analyze your competitorsâ€™ positions and identify the possible for your product
Â· In particular, evaluate the leaderâ€™s position; the leading brand that occupies a special position in the consumerâ€™s mind (Cadburyâ€™s in chocolate); other brands have to necessarily relate themselves in some way to the leaderâ€™s position; they ignore the position of the leader, nor wish it away.
Â· Decide the locus you seek in the minds of the consumers and the attributes of your offer with which you will secure it.
Â· Relate and link your positioning to your target consumers (for whom is it intended?) and ensure that the positioning appeals to them. Segmentation or targeting and differentiation or positioning is to be handled in the composite manner.
Â· Communicate effectively to the target market the positioning you have chosen.
Â· Link your positioning to your value proposition; ensure, it actually emanates from your value proposition.
Â· Monitor the positioning s the product picks up. Check whether any variance occurs between your intended positioning and the actual position the consumer assigns to it in his mind. Tackle the variance; go for a new positioning, if required.