AN EVALUATION OF PRODUCT POSITIONING STRATEGIES FOR MARKETING INDOMIE BREAKFAST
ABSTRACT
An evaluation of product positioning for marketing Idomie breakfast noodles in Enugu is the topic of this study. The goal of the study is to determine how product positioning aids businesses in meeting a larger percentage of their sales targets. Seven different companies were judged to be a representative sample in order to properly conduct the study. For this investigation, the sample random sampling method and the chi-square statistical software were employed. The implementation of product positioning is seen by the chosen firms as a crucial component of the firm’s sales objectives, according to the data analysis.
In order to accomplish their goals, the chosen organizations also adopted product positioning. The marketing operations of the company are organized by region. However it was noticed that the businesses are selling to all of their clients.
Ultimately, the idea was observed:
a. There should be enough money provided.
b. The company has to put more effort into training its sales representatives.
c. They ought to enhance their mix of advertising and sales promotion.
d. Last but not least, the issue of distribution and transportation facilities needs to be improved.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
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.
Positioning has evolved to refer to the process through which marketers attempt to establish an image or identity for their product, brand, or company in the minds of their target market. It is how the target market perceives their product’s relative competitive position in a certain market. We must all acknowledge that positioning takes place in the target market’s thinking. Whether or not a firm’s management is proactive, receptive, or passive regarding the ongoing process of changing a position, it will happen that the market’s overall view of a specific company, product, or service is different from their perception of rivals in the same category. Ries and Trout clarify this as they position begins with a product, the concept really is about positioning that product in the mind of the customer.
As is the case when athletes are competing in a race and are placed in which competitor must work to occupy or reach rewarded position, we want our target segment to conceive in terms of our whole product occupying a separate or different position.
Positioning is a marketing tactic whereby the marketer links his product to particular and distinctive benefits that he wants consumers to see as different and superior to those of his rivals. If the consumer does not have this perception in his mind, no positioning has taken place. Positioning must occur in the view and mind of his competition. The target market must see the company’s product as being distinctive in what it offers for positioning to take place promises them in relation to those of competitors.
1.2 STATEMENT OF THE PROBLEM
Generally speaking, applying product positioning is fraught with several issues. Although the desired product positioning does not appear to be different, it is difficult to put the description into effect. Yet, some of the issues are particularly related to Idomie Breakfast Noodle’s product positioning. Several of these issues are brought up throughout the work in an effort to discover solutions.
The business’s capacity to categorize this consumer base. based on the originality of the purchases. Instead of basing their positioning on customers’ and consumers’ demands, the corporation focused on their goods. The corporation also brags about being number one, leading the client to believe that the company is uneasy in its position if it needs to defend it simply stating that. Because there is no way for the company to know how effective their strategy is or how customers reacted to their products, a leader must be prepared to adopt marketing survey and research as necessary.
1.3 OBJECTIVE OF THE STUDY
As the marketing concept emphasized, it is the major responsibility of every marketing-oriented firm organization to identify consumer needs and devise strategies to meet those needs while also creating a profit for the organization.
In order to complete this work effectively, it is crucial to examine the firm’s strategy and product offerings in order to determine how well they meet the goals of the applying organization. In light of this, the following is described in this work:
i. To understand what product positioning is all about as it relates to the companies under examination.
ii. To be aware of how positioning is actually used by the business or organization to sell its goods.
iii. It’s also important to understand how the company structures its sales. Depending on whether it can identify or knows who its target consumers are, this may be geographically, regionally, or customer-structured.
iv. Another goal of the study is to determine the strategy or approach that the organization actually use to carry out its duties.
v. The effectiveness of product positioning strategies in fulfilling the company’s objectives as well as a variety of others is also evaluated.
1.4 SCOPE OF THE STUDY
The study examines every facet of product positioning as a tool for accomplishing overall business goals. All of the participants in this trial are Idomie Breakfast Noodle. In spite of this, a survey of a few chosen branches in Enugu will be carried out due to time and financial restrictions.
Idomie Breakfast Noodle in Enugu was chosen as the study’s sample since it is thought to be representative of the total community.
1.5 FORMULATION OF THE HYPOHESIS
The following study hypotheses are developed for this work’s purposes and require proper attention; as a result, they will be put to the test for validity and reliability.
I. Hypothesis
Hi: The company uses positioning to accomplish a larger portion of its goals.
Hoi: The company uses placement to accomplish a larger portion of her goals.
Iii Hypothesis
H02: The company’s marketing efforts are not organized by region.
H02: The firm’s marketing initiatives follow a regional organizational structure.
Third Hypothesis
H03: The company is unable to position itself in respect to the industry leaders.
H03: The business establishes its place in regard to the industry leaders.
IV. Hypothesis
H04: The company is unwilling to accept change; instead, they fight it.
1.6 SIGNIFICANCE OF THE STUDY
The importance of the positioning study can be attributed to the fact that many businesses and organizations have struggled to come up with effective positioning strategies. This effort would give marketing and sales managers of businesses and organizations in the state and the entire nation the practical tools they need to plan and gauge the effectiveness of their positioning strategies.
This study is highly significant and justifiable in that it identifies target markets for products and realizes organizational turnover ratio as well as sales development.
Ultimately, the basis for additional resources is so lacking due to this research in this direction.
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