¶ … Marketing Analysis Strategies and Techniques
Keeping products and services relevant to the rapidly changing needs of prospects and customers is a daunting task. The need for keeping products accurately positioned as customers' needs change, continually evaluating and fine-tuning competitive position, monitoring and evaluating customer perceptions are all critical for creating a cohesive strategic marketing plan (Silverblatt, Korgaonkar, 1987). Distribution channels also must be continually evaluated and analyzed as to their effectiveness in serving customers and delivering profitable operations to a company as well. The intent of this analysis is to identify the different types of analysis used by marketers to determine product positioning, competitive position, customer perceptions, and distribution channel analysis.
Product Positioning
The essence of effective product positioning strategies take into account the value delivered by a company with its products and services, how they differ from direct competitors and substitutes, while taking into account the motivations and unmet needs of customers (Zhang, Jiao, 2005). Of the many types of analysis used for completing product positioning, the most common is the use of unmet needs analysis of prospects and customers (Zhang, Jiao, 2005). Unmet needs analysis can tell a company quickly how relevant they are or not to their prospects and customers, which direct competitors they are considering, and which substitutes exist as well.
The advantages of unmet needs analysis through primary research include getting an immediate and very clear idea of what prospects' and customers' needs are, being able to capture the prioritization of features that most contribute to product positioning, and insight into how prospects and customers make trade-offs of one product to another (Zhang, Jiao, 2005). The disadvantages of this technique for determining product positioning include the cost of primary research, the elapsed time required to complete the study, complexity of sampling and the execution of surveys themselves, and the potential for lost competitive advantage in the event competing companies discover the study in progress (Zhang, Jiao, 2005). Despite these limitations however, unmet needs analysis is one of the most prevalently used approaches to creating a product positioning...
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