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MILESTONE TWO: DEVELOPING POSITIONING STRATEGIES
Milestone Two: Developing Positioning Strategies
Jordan Sadler
MKT 605
Dr. Papoulias
MILESTONE TWO: DEVELOPING POSITIONING STRATEGIES
Positioning Strategies
When it comes to launching a new product, it is incredibly important to determine the positioning strategies that will be used because that is what will help the business determine where the business stands in the market that they are entering and how it should be positioned to attract the target audience. If a business has a poorly positioned product, it will keep them from being able to reach their full potential and from connecting with their target audience regardless of how well the product is marketed. If a product is positioned incorrectly, it can have a huge negative impact by making the product unattractive to the right audience or by completely targeting the wrong audience. But an impactful positioning strategy has the power to create a unique space for a product in the minds of consumers and it can help businesses become a dominant force in their market amongst their competitors (Writer, 2021). The company that we will be creating a product for is Rolex, and the product that we are launching is a high-end clothing line for the brand. The clothing line will include high quality casual statement pieces as well as athleisure since the Rolex brand is heavily connected to the sports industry. For the launch of this new clothing line from Rolex, the target market that I have selected is consumers who are seeking high-quality products and who value the prestige and craftsmanship that the Rolex brand provides. This market consists of middle to upper class clientele from the ages of 25 and up. Rolex watches usually caters to clients ages 35 and up since
those are the client who can typically afford a Rolex watch. But this clothing line will be able to cater to a younger market since it will be much more affordable than purchasing a Rolex watch while still providing the same high-quality products that the brand is known for. This new product is completely new territory for the brand since they will be branching into a market that
MILESTONE TWO: DEVELOPING POSITIONING STRATEGIES
they have no prior experience in, so developing a successful positioning strategy and connecting with the target audience will be crucial for the products success. There are several different strategies that could be used to position this new line of products from the Rolex brand and to attract the target audience. One strategy that could be used is the competitive positioning strategy. The key aspect of this strategy is showing consumers why your brand is better than others. To do this, brands must be able to show what makes their brand special when compared to other competitors in the market. Being aware of what your competitors are good at and what they’re not good at is crucial for this strategy. Another strategy that could be used is the quality positioning strategy. This strategy is centered around highlighting the superior quality of your product. With this strategy, brands are able to position themselves as a leader when it comes to quality within their industry. This strategy is most useful
when used in industries where quality is a critical factor for products. The last strategy that could
be used is the price positioning strategy. This strategy is about how a product’s price is positioned relative to its quality and perceived value. By using a higher price point, a product can
be positioned as a premium option which emphasizes quality and exclusivity (QuestionPro, 2023). Rolex could use any of these strategies or a mix of multiple strategies when positioning their new clothing line. Each strategy should be thoughtfully considered to determine which might provide the most success for this new product. Potential Problems
One problem that could inhibit our positioning strategy for this new product from Rolex is the competition in the market. This clothing line will start with casual pieces and athleisure, and there is a lot of competition in the market that has similar products at cheaper price points. There are many well established companies that carry high-quality athleisure such as Nike,
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Related Questions
When creating a Positioning Statement, there are many dimensions that can be leveraged for positioning, these include all the
following except
a. Lifestyle or self-concept
Ob. Product attributes
Oc. Geographical location
Od Competition
O e Time
Clear my cholce
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Define ‘Market Positioning’ with suitable example.
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The George Foreman Grill is a compact cooking appliance with a double- sided cooking surface that is angled to allow fat to drip off the food and out of the grill. Describe a likely target market for this product in terms of its geographic, demographic and behavioural characteristics. How does this target market in your opinion rate with respect to size growth and structural attractiveness? Write a positioning statement for the George Foreman Grill.
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What are the processes of implementing a positioning strategy.
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Define positioning map?
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Select the most appropriate positioning for a firm that currently home delivers pre-prepared food, on a weekly basis, to people who are trying to lose weight. They have now decided to pursue an opportunity in providing a somewhat similar product, but this time, targeted at children.
You have been presented with a number of different positioning alternatives that the firm could adopt for this new target market – which one would you choose?
Alternative Positioning Options for Kid’s Home-delivered Lunchboxes
Option One – As a weight-loss product
For = Many kids are becoming over-weight
Against = Kids may be embarrassed to take to school
Option Two – As a convenience/easy way to organize kid’s school lunches
For = Both parents work in many families and time is important
Against = Some parents may be embarrassed that they have to outsource their kid’s lunch (as potentially seen as disorganized or lazy)
Option Three – As a simple way to…
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write a Problem Statement and Research Questions
Research topic: An investigation into factors affecting participation in cricket among under 15 girls in St. Vincent and the Grenadines."
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What is a positioning grid (or perceptual map)? How would you design a positioning grid and how would you use one in a marketing plan?
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In positioning work we discussed in class, which of the following is true.
Group of answer choices
A company can pick any position it wants and have great success with it because advertising will make the position effective.
Positioning means choosing whether to be the market leader and making it happen.
Positioning is decided by customers.
Marketers need to learn where customers naturally place their product in their minds then orient their marketing to encourage that to happen.
arrow_forward
PositioningAccording to Baines, the following examples are signs of a so-called functional positioning strategy:
Select one or more options:
The beer brand Stella Artois writes that they have existed since the year 1366
The beer brand Norrlands Guld emphasizes in its commercials that it is "ordinary down-to-earth people" who drink Norrlands Guld
Bodyshop mentions that they only make cosmetics that have not been tested on animals
The Dacia car brand emphasizes that you get a good car at a low cost if you choose a Dacia Sandero
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CASE
In his research entitled Factors Influencing the Purchase Decision of Smartphone Users in Sultanate of Oman (Renjith,2020), cited that the Sultanate of Oman is a very vibrant mobile market with over 177% penetration on mobile usage. There are active regulation and enforcement of the market regulations, and high levels of supervision of mobile and internet operators. Almost 92% owned a smartphone and there is a widespread use of the latest smartphone handsets, and almost 82% of the respondents indicated they had intermediate-level skills with mobile technologies (www.tra.gov.om, 2011). He also pointed out that Oman is the fastest-growing market for smartphones in the GCC region with 65 percent of users switching to these devices, according to Ashraf Fawakherji, Vice-President, Middle East, for Huawei (Gulf News, 2013).
All of this information is a result of extensive market research. Considering the details mentioned in the case;
Discuss the importance of market research.
Discuss…
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Identify the six positioning steps.
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What are the requirements for deciding on a positioning strategy? Please provide three (3) examples.
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Explaining
4. various criteria for selecting the Arima model (include advantages/disadvantages)
And write the reference
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Topic: The study of customers’ behavior towards online shopping as opposed to in-store in the Caribbean.
What is the Theoretical Framework based on this topic in a qualitative reseaech approch?
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What is meant by crowd voting?
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n positioning work we discussed in class, which of the following is true.
Group of answer choices
A company can pick any position it wants and have great success with it because advertising will make the position effective.
Positioning means choosing whether to be the market leader and making it happen.
Positioning is decided by customers.
Marketers need to learn where customers naturally place their product in their minds then orient their marketing to encourage that to happen.
arrow_forward
Topic: The study of customers’ behavior towards online shopping as opposed to in-store in the Caribbean.
The research strategy is qualitative and the instrument used to collect data will be a questionnaire.
Based on the topic What questions should be asked in the questionnaire?
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The company "United" suffers from a noticeable loss in its customers during the last three years, which made the CEO of the company make all efforts to study the reasons for this, and through many meetings and discussions among the various committees it was found that:1-Most first-line employees who deal with clients believe that they are present in the company to serve and satisfy customers in any way2-The company's marketing staff did not receive any educational or training programs to understand customer culture and deal with them effectively and efficiently.3-The employees of the company believe that all customers have similar needs and the company must provide one marketing mix to the customers.4-The company does not have any special or exceptional incentives for workers in marketing department.Questions:1- What is the main indicator that alerted the company to the existence of a problem in its marketing performance?2-What is the main problem that the company faces from your point…
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In his research entitled Factors Influencing the Purchase Decision of Smartphone Users in Sultanate of Oman (Renjith,2020), cited that the Sultanate of Oman is a very vibrant mobile market with over 177% penetration on mobile usage. There is active regulation and enforcement of the market regulations, and high levels of supervision of mobile and internet operators. Almost 92% owned a smartphone and there is widespread use of the latest smartphone handsets, and almost 82% of the respondents indicated they had intermediate level skills with mobile technologies (www.tra.gov.om, 2011). He also pointed out that Oman is the fastest growing market for smartphones in the GCC region with 65 per cent users switching to these devices, according to Ashrf Fawakherji, Vice-President, Middle East, for Huawei (Gulf News, 2013).
All of these information are results of extensive market researches. Considering the details mentioned in the case;
Discuss the importance of market research.
Discuss the…
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Define Buffering, Blocking, and Starving?
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Related Questions
- When creating a Positioning Statement, there are many dimensions that can be leveraged for positioning, these include all the following except a. Lifestyle or self-concept Ob. Product attributes Oc. Geographical location Od Competition O e Time Clear my cholcearrow_forwardDefine ‘Market Positioning’ with suitable example.arrow_forwardThe George Foreman Grill is a compact cooking appliance with a double- sided cooking surface that is angled to allow fat to drip off the food and out of the grill. Describe a likely target market for this product in terms of its geographic, demographic and behavioural characteristics. How does this target market in your opinion rate with respect to size growth and structural attractiveness? Write a positioning statement for the George Foreman Grill.arrow_forward
- What are the processes of implementing a positioning strategy.arrow_forwardDefine positioning map?arrow_forwardSelect the most appropriate positioning for a firm that currently home delivers pre-prepared food, on a weekly basis, to people who are trying to lose weight. They have now decided to pursue an opportunity in providing a somewhat similar product, but this time, targeted at children. You have been presented with a number of different positioning alternatives that the firm could adopt for this new target market – which one would you choose? Alternative Positioning Options for Kid’s Home-delivered Lunchboxes Option One – As a weight-loss product For = Many kids are becoming over-weight Against = Kids may be embarrassed to take to school Option Two – As a convenience/easy way to organize kid’s school lunches For = Both parents work in many families and time is important Against = Some parents may be embarrassed that they have to outsource their kid’s lunch (as potentially seen as disorganized or lazy) Option Three – As a simple way to…arrow_forward
- write a Problem Statement and Research Questions Research topic: An investigation into factors affecting participation in cricket among under 15 girls in St. Vincent and the Grenadines."arrow_forwardWhat is a positioning grid (or perceptual map)? How would you design a positioning grid and how would you use one in a marketing plan?arrow_forwardIn positioning work we discussed in class, which of the following is true. Group of answer choices A company can pick any position it wants and have great success with it because advertising will make the position effective. Positioning means choosing whether to be the market leader and making it happen. Positioning is decided by customers. Marketers need to learn where customers naturally place their product in their minds then orient their marketing to encourage that to happen.arrow_forward
- PositioningAccording to Baines, the following examples are signs of a so-called functional positioning strategy: Select one or more options: The beer brand Stella Artois writes that they have existed since the year 1366 The beer brand Norrlands Guld emphasizes in its commercials that it is "ordinary down-to-earth people" who drink Norrlands Guld Bodyshop mentions that they only make cosmetics that have not been tested on animals The Dacia car brand emphasizes that you get a good car at a low cost if you choose a Dacia Sanderoarrow_forwardCASE In his research entitled Factors Influencing the Purchase Decision of Smartphone Users in Sultanate of Oman (Renjith,2020), cited that the Sultanate of Oman is a very vibrant mobile market with over 177% penetration on mobile usage. There are active regulation and enforcement of the market regulations, and high levels of supervision of mobile and internet operators. Almost 92% owned a smartphone and there is a widespread use of the latest smartphone handsets, and almost 82% of the respondents indicated they had intermediate-level skills with mobile technologies (www.tra.gov.om, 2011). He also pointed out that Oman is the fastest-growing market for smartphones in the GCC region with 65 percent of users switching to these devices, according to Ashraf Fawakherji, Vice-President, Middle East, for Huawei (Gulf News, 2013). All of this information is a result of extensive market research. Considering the details mentioned in the case; Discuss the importance of market research. Discuss…arrow_forwardIdentify the six positioning steps.arrow_forward
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