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The precise origins of the positioning concept are unclear. Cano (2003), Schwartzkopf (2008), and others have argued that the concepts of market segmentation and positioning were central to the tacit knowledge that informed brand advertising from the 1920s, but did not become codified in marketing textbooks and journal articles until the 1950s and 60s.
In marketing, segmenting, targeting and positioning (STP) is a framework that implements market segmentation. [1] Market segmentation is a process, in which groups of buyers within a market are divided and profiled according to a range of variables, which determine the market characteristics and tendencies. [ 2 ]
For example, the German magazine Die Woche in 1902 printed an article about a countess in her castle where she, in one of the photographs, holds a copy of the magazine in her hands. [12] Product placement was a common feature of many of the earliest actualities and cinematic attractions from the first ten years of cinema history. [13]
The marketing program for each brand or product should be based on the understanding of the target market (or target markets) revealed in the market profile. Positioning is the final step in the S-T-P planning approach; Segmentation → Targeting → Positioning. It is a core framework for developing marketing plans and setting objectives.
Perceptual maps can also be used to help keep track of how a new product, such as a recently introduced smartphone, is being viewed in a specific market. It is important to see that the way a business is marketing its product is not only successful, but successful in a manner that aligns with the business’s overarching goal for positioning.
It is also a positioning of value, where Value = Benefits − Cost (cost includes economic risk). [4] A value proposition can be set out as a business or marketing statement (called a "positioning statement") which summarizes why a consumer should buy a product or use a service. [1]
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Product strategy defines the high-level plan for developing and marketing a product, how the product supports the business strategy and goals, and is brought to life through product roadmaps. A product strategy describes a vision of the future with this product, the ideal customer profile and market to serve, go-to-market and positioning ...
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