Question

6:07 + Expert Q&A + Assume that you are the new Marketing Manager and that your company has introduced a new brand of chocolate bar. Your task is to decide who will be your target market and how you will position your brand in the marketplace. Identify atleast 3 competing brands. How are they posotioned? How will your position be different? Do

This question was answered before. However, It was not what I was looking for. I need an answer that incorporates the 4P's of Marketing as well as different operations management techniques and should be atleast 400 words long.
Help Would be appreciated.

Answer 1

In order to answer this question we will select target market as Young children and Adults.
We found out three well known competition brands like : Cadbury, Nestle, Mars. Now if see current market trend(in India) Cadbury(Silk) has highest market share followed by Nestle(5 Star) and than Mars. All these three are key players in market that we well known among young and adult generation.

Now in order to position our New brand in market place we need to do some prework and put some efforts to prepare plan considering all 4P's of marketing. Now in order to do this first of all, we must know what is market positioning and what are the 4P's of marketing.
Market positioning is the process of creating and defending a valuable position for products & services in market relative to the competitor.

4p's of marketing are : Product, Price, Promotion & Place. These together are also known as marketing mix.

Moving further in order to sustain a robust market position among target customer we must adopt below ways

1) Needs of customer

It is always better to identify customer requirements or needs and methods(services) to fulfill them. This prework always helps in choosing the right product and path for a new brand. Now this technique includes one of the four P's of marketing that is "Product" that is choosing right product or service will help in fulfilling customer need and establishing a firm position.

2) Pricing

Now this is the major factor that impacts the mind set of customer. It is the primary form of competition. So this tends to explain us that product having reasonable/lowest price with appropriate quality level will win in market. Now this includes one of 4P's of market that is "Pricing"

3) Brand recognition
This means promoting a product using basic visual symbols, taglines or in any way of information so that customers recognize you in the crowded market. One of market 4P's in this point is "Promotion".

4) Convenience
Now being as a customer we would love to buy product from a retailer that is located near to us for example : Mobile shops, Car showrooms, service centre, etc. So a product or service that is in the reach of customer gets the advantage over competitor easily. So convenience refers to Place and this is one of the 4P's of market.

There are few more techniques in order to attain a good market position like : Customer service, customer perception, etc but considering answer to this question above information is sufficient. Thank you.