Multi Level Marketing vs. Pyramid Selling
Amongst the different methods of direct selling, Multi Level Marketing occupies a prime place simply because of the fact that it is growing substantially and continually all over the world. Every day people are joining the network to become distributors and thousands have become millionaires thanks to the network. If you are looking to start […]
Consultative Sales Approach to Customer Objections
Being a good Salesman does not come easily to everyone. Out of thousands who take up a career in sales, there are a few hundreds who turn out to be mediocre salesmen pushing the product and chasing sales target and many more leave the field altogether. There are few, who carve out a brilliant trajectory […]
Innovation and Product Management
Innovation is the name of the game as far as companies in the 21st century are concerned. To compete effectively in the marketplace of this decade, companies need to either innovate or perish. Hence, innovation is the latest buzzword among the corporates. The innovation cycle as applied to product management consists of three stages: The […]
Corporates and Charity: Two Sides of the Debate
The Philanthropy of the Mega Rich The recent announcement by Mark Zuckerberg, the Founder of Facebook, that he would give away 99% of his shares in his company to charity has brought into focus the trend of Billionaires giving away their fortunes to charity. Indeed, starting with the founder of Microsoft, Bill Gates, and including […]
Factors Involved While Deciding New Product or Service
Introducing a new product in the market requires meticulous planning and relevant ideas put together after several rounds of discussions and brainstorming sessions among employees associated with the organization. There are several factors which go a long way in deciding how and when a new product should be launched so that it is not only […]
The process of creating an image of a product in the minds of the consumers is called as positioning. Positioning helps to create first impression of brands in the minds of target audience. In simpler words positioning helps in creating a perception of a product or service amongst the consumers.
Example
The brand “Bisleri” stands for purity.
The brand “Ceat Tyre” stands for better grip.
Marketers with the positioning process try to create a unique identity of a product amongst the customers.
It is essential for the marketers to first identify the target audience and then understand their needs and preferences. Every individual has varied interests, needs and preferences. No two individuals can think on the same lines.
Know what your customers expect out of you.
The products must fulfill the demands of the individuals.
The marketers themselves must be well aware of the features and benefits of the products. It is rightly said you can’t sell something unless and until you yourself are convinced of it.
A marketer selling Nokia phones should himself also use a Nokia handset for the customers to believe him.
Every product should have USPs; at least some features which are unique. The organizations must create USPs of their brands and effectively communicate the same to the target audience.
The marketers must themselves know what best their product can do.
Find out how the products can be useful to the end-users ?
Why do people use “Anti Dandruff Shampoo?”
Anti Dandruff Shampoos are meant to get rid of dandruff. This is how the product is positioned in the minds of the individuals.
Individuals purchase “Dabur Chyawanprash “to strengthen their body’s internal defense mechanism and fight against germs, infections and stress. That’s the image of Dabur Chyawanprash in the minds of consumers.
USP of a Nokia Handset - Better battery backup.
USP of Horlicks Foodles - Healthy snack
Communicate the USPs to the target audience through effective ways of advertising. Use banners, slogans, inserts and hoardings.
Let individuals know what your brand offers for them to decide what is best for them.
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