Product Positioning The efforts a business makes to identify, place, and sell its products in the marketplace The goal is to set the product apart from.

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Presentation transcript:

Product Positioning The efforts a business makes to identify, place, and sell its products in the marketplace The goal is to set the product apart from the competition

Product Positioning Strategies A number of strategies can be used to position products in the marketplace Positioning by price and quality Positioning by features and benefits Positioning in relation to the competition Positioning in relation to other products in the line

Positioning by Price and Quality A company may offer an economy line, a mid-priced line, and a luxury line Stresses high price as a symbol of quality or low price as an indication of value Economy LineMid-priced LineLuxury Line

Positioning by Features and Benefits Products are often associated with a feature, attribute, or consumer benefit Helps people lose weightCleans without harming the environment

Positioning in Relation to Competition Some businesses position their products to compete directly with the products of other companies VS

Positioning in Relation to Other Products in a Line Individual products may be positioned in relation to other products in the same line

Review 1. What are the focus and goal of product positioning? 2. How is positioning a product in relation to competition different from positioning it in relation to other products in a line?

Repositioning When a product reaches the decline stage of the product life cycle it must be changed – or repositioned Repositioning – changing the identity or image of a product to redirect or expand the target market

Examples: Pledge Pledge Commercial

Examples: Cheerios Cheerios Commercial

Planograms A computer developed diagram that shows retailers how and where products should be displayed on the shelf…maximizing the products potential

Assignment Get the Orange Textbooks Complete the questions from Chapter 30.2 Questions 1-3 on page 647 Questions 7, 8, 9, 10, 11 on page 649

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