TIGER BALM POSITIONING STRATEGY AND BEHAVIOR SEGMENTATIONS Essay Example

making the product attractive to the young generation. They have done this by extending the product line that is used by sportsmen and the young generation.

Unlike behavior segmentation, the position strategy aims to make the product appear distinct position in relation to the brands of competitors. One of the strategies adopted by Tiger balm is specific demography (university 2016). It targets people who develop pain more frequently. This target group is made up of sportsmen who develop pain and strain as a result of engaging in vigorous activities, white collar officers due long sitting hours while maintaining a certain posture and adult since they rely on painkillers to manage persistence pain. Branding also plays another important role in positioning. According to Mr Aw, branding and distribution are assets whose values extend beyond the current time (Pangarkar 2015). Tiger balm has developed new brands that are essential for attracting new customers. It has also enhanced distribution lines and ventured into new markets. Its brand positioning statement is “works where it hurts, works for million worldwide” (Balm 2014). It helps in differentiating tiger balms’ brands from other company’s brands and leaves a lasting impression in customers. Both packaging and positioning statement are essential in attracting new customers and making them repeat customers.

Segmentation plays a big role in marketing and helps in identifying market targets. For instance, behavior segmentation helps in identifying the benefits that consumers seek from a product. The information is needed for scheduling promotion. Behavioral segmentations also enhance customer loyalty. Loyal customers are cheaper to retain, they are more profitable, their engagement helps create reliable feedback and they help in increasing customer base since they

are more likely to attract new customers through word of mouth on the other hand acquisition of new customers help in increasing the market size. Positioning attracts different types of customers, helps in winning their attention and interest and also in attracting competition. The adaptation of behavior segmentation and positioning strategy helps tiger balm, retain its customers and also attract new ones. They also help in ensuring long existence in the market giving it healthy competition against other companies and also help in maintaining its profitability.

Reference List

Balm, T., 2014. tiger balm. [Online]  Available at: http://www.tigerbalm.com/sg

[Accessed 24 October 2016].

Pangarkar, N., 2015. Linkedin. [Online]  Available at: https://www.linkedin.com/pulse/building-durable- assets-lessons-from-tiger-balm-nitin-pangarkar [Accessed 24 October 2016].

University, s. m., 2016. singapore management university. [Online]  Available at: https://www.smu.edu.sg/perspectives/2016/05/25/tiger-balm-roaring-back- success

[Accessed 24 October 2016].