Marketing 101 teaches the importance of the four P's: product, price, place and promotion. Several aspects, such as the company's background and its target region and country, greatly determine its game plan for success.
Every thriving company understands the necessity of securing the correct positioning of its brand and products. “The right position will be determined by its success in the marketplace and success is determined by the ability to have a strong international presence, provide an extensive range of products and offer excellent service,” said Clemens Krebs, Head of International Marketing and Communications Management, Bosch Security Systems.
From a consumer's perspective, a company's brand positioning and products helps distinguish it from a multitude of choices. “Positioning is very important, as it allows the market to understand what they can expect when choosing a product,” said James Smith, European Marketing Manager, Samsung Techwin. “The correct positioning is measured based on the demand for products from your target customer groups and ultimately, how successful you are in the market as a result.”
Achieving Prime Position
Cultivating the market's perception of a company and its products is critical, requiring plenty of research and work. To achieve the optimal position, it involves a wide range of people and company strategies, said William Ku, Director of Brand Business for Vivotek. “Upper management will map out a plan based on how they wish consumers to perceive their brand. This strategy will include proper branding and positioning of their products, providing adequate customer service and developing a channel into the market.”
Cultivating a recognized and respected brand validates a company's position in the market. “There are a number of factors that determine how a product is positioned, but brand power is a very important factor,” Smith said. Building brand value with customers is crucial and the products are the foundation of this brand promise, said Yoshikazu Hirano, GM of Security Solutions, Business and Professional Products for APAC, Sony Electronics. “To position products in a positive light is easy, but to remain in this position in the eyes of customers requires proven technology and superior products that stand the test of time.”