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Module 5 Review
Part 1
A positioning statement is an appropriate description of the main target audience that a given brand aims to attract. A positioning statement is also known as a brand strategy, brand positioning statement or a positioning strategy. In any marketing strategy or plan, a positioning statement is a core to determining the plan’s success (Baker, 2014).
The importance of the positioning statement is that it creates a picture of how the organization or company wants its customers or consumers of the specific brand to view it. Therefore, it is considered to be very a very important statement that ensures that brand positioning part of the marketing plan is an absolute success.
“Our Economy cabin provides brilliant service, great food, and great in-flight entertainment. Why expect less?” The above statement is the positioning statement for the Virgin Atlantic Airline’s Economy cabin brand. The positioning statement above is effective due to some few reasons. One is that the positioning statement has clearly defined the target audience. The target audience being the people that opt to travel in economy class. Second, the positioning statement has clearly pointed out the benefits of the economy class to its customers. Lastly, the positioning statement gives any potential customer its word that the brand will surely deliver on its promise.
Module 5 Review
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Virgin Atlantic Airlines has a strong brand equity. From the positioning stamen of the airline as mentioned above. We have ascertained that the positioning strategy is a strong one. The statement is significant in ensuring that the marketing strategy goes according to plan and achieves the strategic goals of the organization. Therefore, creating a strong brand equity that will make customer relate to a brand that has been existing for longer than other brands. The brand equity of the Virgin Atlantic Airline is strong as seen by the success of the airline over the decades it has been operating since it was established.
Defender, analyzer, and prospector business strategies are used differently in their implementations in organizational business strategy. Defender strategy when used in an organization, is implemented by the way of the organization not focusing on incorporating new technology into their operations. Instead, the organization focuses more on improving the way it currently conducts its business operation thus defending its position in the business market (Mullins et al., 2013).
The analyzer business strategy is completely different from the defender one. In this business strategy, the organization attempts to be innovative in new businesses while maintaining their current businesses. While prospector business strategy focuses more on taking risks, emulating new ideas, being more innovative and growing in an innovative way. Using this strategy, organizations can venture into new innovative businesses and tests new emerging trends in the business environment they operate.
Module 5 Review
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Part 2
Perceptual Map
References
Baker, M. J. (2014). Marketing strategy and management. Palgrave Macmillan.
Mullins, J., Walker, O., & Boyd, H. (2013). Marketing management: A strategic decision-making approach. (8th ed.) New York: McGraw-Hill Irwin
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