THE ROLE OF POSITIONING STRATEGY ON PRODUCT PERFORMANCE

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THE ROLE OF POSITIONING STRATEGY ON PRODUCT PERFORMANCE

ABSTRACT

This study is a research into “the role of positioning strategy on product performance

. The study seeks to find out how product positioning helps the firms in achieving greater part of its sales objectives. In an attempt to carryout the study effectively, a total sample of seven firms were judgmentally selected. This sample random sampling technique and chi-square statistical tools was used for this study. From the analysis of the data, it was deduced that the selected firms consider the application of product positioning as very important part of firm’s sales objectives. The selected firms also used product positioning to achieve their aims. The firms marketing operations are regionally structured. However, it was noted that the firms is selling to all the customers.

Finally, the following suggestion were seen:

a. There should be adequate provision of funds.

b. The firm should engage more effort to train their sales executives.

c. They should improve on advertising and other sales promotion mix.

d. Lastly, the issue of transportation and distribution facilities should be improved.

TABLE OF CONTENTS

Title Page

Abstract

CHAPTER ONE: INTRODUCTION

1.1 Background of the Study

1.2 Statement of Problem

1.3 Objective of the Study

1.4 Scope of the Study

1.5 Formulation of Hypothesis

1.6 Significance of the Study

1.7 Definition of Terms

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1 Meaning and Scope of Product Position Strategies

2.2 Bases for Position A Product

2.3 Types of Positioning Strategy

2.4 Product Positioning Process

2.5 Enveloping of positioning Strategies

2.6 Evaluation of positioning strategies

2.7 Communicating The Company’s Positioning Strategies

CHAPTER THREE:

RESEARCH METHODOLOGY

3.1 Sources data

3.2 Determination of sample size customers

Sample size

3.3 Sampling Technique

3.4 Research instrument used

3.5 Validation of research instruments

3.6 Questionnaire allocation and administration

3.7 Method of data treatment an analysis

3.8 Limitation of the study

CHAPTER FOUR:

4.0 DATA PRESENTATION AND ANALYSIS

4.1 Data Presentation and Analysis

4.2 Testing Of Hypothesis

CHAPTER FIVE:

SUMMARY, AND FINDING CONCLUSION, AND RECOMMENDATION

5.1 Summary of Findings

5.2 Recommendation

5.3 Conclusion

Bibliography

Appendix

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

In marketing, positioning has come to mean the process by which marketers try to create an image or identify in the mind of their target market for its product, brand or organization. It is the relative competitive comparison their product occupies in a given market as perceived by the target market. What we must agree as is that positioning is something that happens in the minds of the target market. It is the aggregate perception that market has of a particular company, product or service in relation to their perception of the competitors in the same category it will happen whether or not company managements is productive, reactive or passive about the on-going process of evolving a position Ries and Trout explain that while positioning begins with a product, the concept really is about positioning that product in the mind of the customer. This approach is needed because consumers are bombarded with a continuous stream of advertising, the easiest way of getting into someone’s mind is to be first. It is very easy to remember who is first, and much more difficult to remember who is second. Even if the second entrant offers a better product, the first mover has a large advantage that can make up for other shortcomings.

Product positioning refers to the place on offering occupies in consumers mind on important attributes relatives to competing offerings. The essence of positioning is to sell consumers something unique, different or distinctive about our product, which is different from what the competitor offer we want our target segment to think in terms of our total product occupying a distinct or different position as is the case when athletes are running in a race and are positioned in which competitor must strive to occupy or attain rewarding position.

Position is a marketing strategy whereby the marketer associates his product with specific and unique benefits, which he wants consumer to perceive as being different and better than those of his competitors. Positioning has to take up place in the perception and mind of his competitors, if the consumer does not have this perception in his mind no positioning has occurred. For positioning to occur the target segment must see the company’s product as being unique in what it promises them in relation to those of competitors.

1.2 STATEMENT OF THE PROBLEM

Generally a great number of problems confront the application of product positioning. To desirable product positioning does not seem different but to put the description into practice is not easy. Some of the problems however are particularly about product positioning in Idomie Breakfast Noodle. Some of the these problems are stated in the work with the purpose of finding solution to them.

The ability of the firm to classify these customers group. According to the uniqueness in purchases. The company based their positioning on their product rather their based on customers/ consumers and their needs. The company also go about boasting about being number one and by doing so the customer will think that the firm is insecure in its position if it must reinforce it by saying so. The company don’t know what that change is inevitable and a leader must be willing to embrace to carryout marketing survey and research because there is not provision to know how effective their strategy is and how customers responded to their products.

1.3 OBJECTIVE OF THE STUDY

Like the marketing philosophy pointed, out, every marketing oriented firm organization has the primary duty of not only making sales for the company but for the identification of customers need and planning to satisfy their customer need at a profit to the firm.

For the purpose of this work, it is therefore very important to review the strategy and offering of organization with a view to finding how effective such strategy and offering are meeting the objectives of the organization that is applying them. If is the light of this that this work outlines the following:

i. To known what product positioning is al about as if involves the companies under study.

ii. To know actually the company or organization actually applies positioning in the sales of its product.

iii. Also, to know how the company’s sales is structured. This could be geographically, regionally or customer structured and if it can determine or know its target customers.

iv. The other objective of this study is also to know the method or strategy the company actually uses in performing its functions.

v. Also the evaluation of product positioning strategies is achieving the firm’s goals as well as host of the others.

1.4 SCOPE OF THE STUDY

The study covers all aspect of product positioning as an instrument for achieving organizational objectives as a whole. The population of this study is all Idomie Breakfast Noodle. However due to time and financial constraints, a survey of selected and financial constraints, a survey of selected branch in Enugu will be conducted.

Therefore, the study sample has narrowed to Idomie Breakfast Noodle in Enugu, which the research believe is representative of the entire population.

1.5 FORMULATION OF THE HYPOHESIS

For the purpose of this work, the following research hypothesis are formulated and need adequate attention hence, they will be subject to test to reliability and authority.

Hypothesis I

H0i: The firm does use positioning to achieve greater part of their objectives.

Hoi: The firm uses positioning to achieve greater part of her objectives.

Hypothesis Ii

H0_2:The firm marketing operations are not regionally structured.

H0₂: The firm marketing operations are regionally structured.

Hypothesis III

H0₃: The firm cannot find a way to position itself in relation to the market leaders.

H0₃: The firm finds his way to position itself in relation to the market leaders.

Hypothesis IV

H0₄: The firm is not willing to embrace change rather they resist it.

H0₄: The firm must be willing to embrace change rather than resist it.

1.6 SIGNIFICANCE OF THE STUDY

They study on the positioning is very significance because many companies and organization have had of the lack of ideas to produce positioning. This work would provide marketing / sales managers of companies and organizations in the state and country at large, with the useful tools for designing and accessing the efficacy of their positioning programmes.

This study is very significant and justifiable in that product positioning and identification target markets by organization realization turnover ratio of organization as well as development sales .

Finally, this research in this direction thereby lagging foundation for other resources.

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