Sample Essay
Positioning is vital component of the marketing strategy especially when it comes to retailers as it defines and provides the target markets and segments of the market that are targeted by the retailer. The positioning strategy seeks to position the retail company, its brands and its products in the relevant segments above its competitors. “The basic approach of positioning is not to create something new and different. But to manipulate what is already up there in the mind.
To retie the connections that already exist” (Ries & Trout, 2000, p5). Positioning is often considered as a part of the branding strategy as it aids branding by placing products amongst others in the target markets. “The product position concept is an extension of the brand image concept, defined as the sum of perceptions, favourable or unfavourable, about attributes of a product based on consumers’ experience and knowledge of the product. In brief, a products position is its brand image with respect to competing products – the way the product is competitively defined by consumers on key attributes” (Sandhusen, 2000, p286)
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