Positioning Spysnat Slippers: A New Way to Stand Out in the Market - Essay Sample

Introduction

Spysnat is looking to formalize a position statement on a new pair of slippers into the market. The position statement will specify the particular place that the company wants the product to occupy in the target customers' minds. Customers are known to compare various products and services. Therefore, positioning strategies adopted by the marketers have to be the ones that improve the perception that customer has on the product. The product positioning for Spysnat slippers is going to implement four critical steps. The first is to build the slippers based on the benefits for prospective customers. The second is to differentiate the product from the leading competitors. Third, ensure the firm owns relevant skills, resources, and credibility to deliver the implied statements and promises. The final piece is to build a defensible position that can hold against an aggressive competitor.

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The product is set to have the following benefits to the owner or wearer. The slippers are designed to provide the wearer with a high sense of affordability while maintaining comfort. Despite being designed for in-door wearing, their soles are durable enough to be worn on the outside, which makes them multipurpose. The cherry on the cake is that they are made 100% percent using recycled trash. While this might not seem like a direct benefit, it is essential as the rest of the benefits to the target market of the product. The target market, who are the millennials and the Gen Zers, want to ensure that they are contributing positively to the environmental conservation efforts. The slippers provide the benefit of satisfaction with their efforts in the fight against environmental degradation.

Second, the team needs to differentiate the product from that of its main competitors. While the slippers' benefits to the consumer are outlined, these benefits need to be unique to the product. The differentiation is the factor that will enable the competition to go for this product instead of the ones produced by the competitor (Camilleri 15-16). As such, the team identified a couple of attributes while doing the differentiation. First, there is the price, which is a significant factor to consider when dealing with the target group. The product is set to be cheap enough for almost anybody to afford. That way, it would not lock out other sections of the population from accessing it. The second stand out factor is its manufacturing material, which is also responsible for its low price. The slippers are made using recycled material, which significantly contributes to its selling price. Furthermore, should the company decide to use biodegradable material, it will end up with a more expensive product, which will be less unappealing to its target market.

The third move is to ensure the company owns relevant skills, resources, and credibility to deliver its promises and implied statements. That includes the hiring of a quality team to guide the development of the product. A quality team will increase the chances of delivering a quality product that is following consumer demands. Furthermore, it will also reduce the chances of mistakes and blunders that increase the cost of production either directly or indirectly. In terms of resources, the company gets to review their books to ensure they are in a financial position for such an undertaking. The organization should not be too exposed in terms of risk because that will increase the pressure on the staff, which could work against the delivery of the implied statement. However, while the demands of the customers are diverse, the team should focus on delivering only that which they promised. However, the process can only work if the customers believe that the company will deliver their promise. Therefore, it up to the company to build its credibility among the target group.

The final piece is for the company to build a defensible position against a possible aggressive competitor. One way to achieve that is to build a brand name that will lead to trust from the customers and lead to customer loyalty. A defensible position requires time, patience, and consistency. According to O'Connor, when a business is profitable, other businesses will soon copy it (par.1). To prevent that from happening, the company has to use factors such as economies of scale, counter-positioning, regulatory protection, and even process power. The processing power would make it difficult for the system to be replicated because it keeps evolving with more tweaks and complexity to improve performance.

Works Cited

Camilleri, Mark Anthony. "Market segmentation, targeting, and positioning." Travel marketing, tourism economics, and the airline product. Springer, Cham, 2018. 69-83.

O'Connor, Cian. "What Makes a Business Defensible?" Medium, Medium, 11 Mar. 2019, medium.com/@cianoconnor/what-makes-a-business-defensible-b4ce4750bb14.