Market Positioning Research
What are the five steps required for effective product positioning?
1. Select key criteria that effectively differentiate products or services in the industry.
2. Diagram a two-dimensional product-positioning map with specified criteria on each axis.
3. Plot major competitors ' products or services in the resultant four-quadrant matrix.
4. Identify areas in the positioning map where the company 's products or services could be most competitive in the given target market. Look for vacant areas (niches).
5. Develop a marketing plan to position the company 's products or services appropriately.
What is the meaning of product positioning and give examples of product attributes?
Product positioning
• Product positioning is a marketing strategy that aims to make a brand occupy a distinct 'position, ' relative to the competing brands, in the mind of the customer.
• Firms apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising.
• Once a brand is positioned, it is very difficult to reposition it without destroying its credibility.
Product attributes
• Some products require attribute designation. For example, clothes are sold in different colors and sizes. In this case, color is a product attribute and size is another. o "Attributes" are simply properties of a given product, brand, service, advertisement or any object of interest.
• Much brand and market research is targeted at understanding the most significant and powerful attributes of a product/service/brand or product/service/brand class. o A product, service, or brand can have many attributes including cost, value for money, prestige, taste, usability, liking ("affect") and a wide range of image or personality
1. Select key criteria that effectively differentiate products or services in the industry.
2. Diagram a two-dimensional product-positioning map with specified criteria on each axis.
3. Plot major competitors ' products or services in the resultant four-quadrant matrix.
4. Identify areas in the positioning map where the company 's products or services could be most competitive in the given target market. Look for vacant areas (niches).
5. Develop a marketing plan to position the company 's products or services appropriately.
What is the meaning of product positioning and give examples of product attributes?
Product positioning
• Product positioning is a marketing strategy that aims to make a brand occupy a distinct 'position, ' relative to the competing brands, in the mind of the customer.
• Firms apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising.
• Once a brand is positioned, it is very difficult to reposition it without destroying its credibility.
Product attributes
• Some products require attribute designation. For example, clothes are sold in different colors and sizes. In this case, color is a product attribute and size is another. o "Attributes" are simply properties of a given product, brand, service, advertisement or any object of interest.
• Much brand and market research is targeted at understanding the most significant and powerful attributes of a product/service/brand or product/service/brand class. o A product, service, or brand can have many attributes including cost, value for money, prestige, taste, usability, liking ("affect") and a wide range of image or personality