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Principles of Marketing PDF

   

Added on  2021-02-19

7 Pages1369 Words44 Views
Assessment principle ofmarketing

Table of contentsINTRODUCTIONMAIN BODY TASK 11.Relevance and importance of positioning and repositioning for marketers.2.Positioning map3.Two methods to achieve repositioning. CONCLUSION REFERENCES

INTRODUCTIONMarketing has been defined as one of the most important business activity which helpscompany in increasing its sales revenue and productivity. By using best promotional andadvertisement activities, company can improve its marketing function. The present report ison Burberry which is one of British luxury fashion company. It was founded in 1856 havingfocus on outdoor attire development. It will define importance of positioning andrepositioning of products for the company growth.MAIN BODY TASK 11. Relevance and importance of positioning and repositioning for marketers.Positioning is related with the process of marketing which every business organisationuses for making increase in its customer base, sales as well as profit margin. It helps thecompany in determining what process or strategies to be adopted for targeting its customersand satisfying their needs, demands. By using best positioning feature, Burberry cancommunicate its products to its customer and can make them satisfied. It helps company ingaining competitive advantage and market share as well. Following is relevance ofpositioning:1.Helps company in understanding customer needs and delivering right product andservices to them for achieving customer satisfaction and large customer base.2.It helps in identifying difference between products and services offered by themand that of its competitors uses (Moon and Kamakura, 2017). 3.Product positioning helps company in creating image about its products in theconsumers mind by highlighting benefits which differentiate it from competitorproducts in the marketplace.4.This process relates to identifying niche and specific market segments so as totarget audience and increase profitability.Product repositioningis a method which can help Burberry in improving value or brandimage which it has perceived by satisfying and meeting customer needs. It ensures makingsame brand position in relative to competitive market. By adopting for product repositioning,Burberry can achieve following:

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