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The Role Of Product Positioning In Consumer Buying Decision Process

1134 words - 5 pages

he Role of Product Positioning in Consumer Buying Decision Process Segmenting, Targeting, Positioning (STP) is the process which marketers employ to select target markets. Segmentation is the process of ordering consumers into groups with similar product interests or needs. Targeting involves a company determining which market segments it believes it can satisfy, and then choosing an appropriate targeting strategy for the segments. Positioning is how consumers perceive a brand or product, particularly in relation to other brands and products.

The relation between target segments and product positioning is dependent on the age of the company. For a new company, they have the opportunity ...view middle of the document...

Xerox was so well known that the word Xerox became a verb to replace photo copy. This kind of positioning is invaluable as everyone knows the product considerably better than the competition. Obviously, brand position is much more than just being the first in the market, but being first does help. Many other factors such as continuous quality, style, word of mouth, and improved advertisement will all help product positioning.

The Consumer buying decision process is characterised by five stages: Problem recognition, information search, evaluating of alternatives, purchase, and post-purchase evaluation. Problem recognition is “when a buyer becomes aware of a difference between a desired state and an actual condition”. Therefore the buyer is lacking a product and they realise that they need or want this product. Information search is when a buyer has discovered their problem and needs to search for information to help them solve the problem. This may be performed internally or externally. Internal search is when the buyer searches their memory from previous knowledge or experience. External search is when the buyer finds information from other sources, such as friends or public sources. Evaluation of alternatives describes the buyer considering the possible products found from the information search. The buyer evaluates each product based on both objective and subjective criteria. Purchase is the stage where the consumer has chosen a particular product from the evaluation stage, and chooses a brand based upon style, price, reputation, and etcetera. Post evaluation is when the buyer evaluates the product to ensure it meets their particular needs. This consists of looking over the criteria used in the evaluation stage again, plus some others.

Product positioning influences the evaluation of alternatives and purchasing stages. The nature of product positioning is to distinguish one brand’s product from the others, so we may assume that product positioning only influences choice between similar products. Therefore product positioning is not a factor in the information search. Product positioning has an effect on the buyer’s evaluation of alternatives and purchasing. It is these two stages where the consumer compares the products offered by different brands, and possibly chooses one. As the consumer compares products, product positioning will help the consumer determine the differences between the products, and help them select the product which best meets there evaluation criteria.

When a consumer wants to purchase a product, they perform a level of problem solving to determine which product and brand to purchase. A large factor in the problem solving is...

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