1. 2.05 Define the terms positioning (the process businesses can use to occupy the desired space in customers’ minds about a product, brand, company, etc.); positioning concept (the first step in a positioning process that identifies management’s desired idea of what a product, brand, company, etc., stands for in customers’ minds; the differentiating idea that sets a product, brand, or company apart from its competitors); product class/category, and concept testing. Explain the purpose of a positioning concept (i.e., to guide the company’s marketing mix decisions). Identify factors on which products can be positioned (e.g., product attributes, benefits and consequences resulting from product use, the product application). Describe types of positioning concepts (i.e., functional, symbolic, experiential). Discuss characteristics of effective brand positioning (e.g., relevant, distinct, credible, benefit-based, strategically aligned). Explain tools that businesses can use to aid in developing a positioning concept. Demonstrate procedures for developing a positioning concept for a new product idea.

2. Positioning the process businesses can use to occupy the desired space in customers’ minds about a product, brand, company, etc

3. Positioning Concept the first step in a positioning process that identifies management’s desired idea of what a product, brand, company, etc., stands for in customers’ minds; the differentiating idea that sets a product, brand, or company apart from its competitors); product class/category, and concept testing.

4. Explain the purpose of a positioning concept to guide the company’s marketing mix decisions.

5. Identify factors on which products can be positioned product attributes benefits & consequences resulting from product use, the product application).

6. Describe types of positioning concepts Functional symbolic experiential

7. Characteristics of Effective Brand Positioning Relevant Distinct Credible benefit-based strategically aligned).

8. Tools businesses can use to developing a positioning concept.

9. Procedures for developing a positioning concept for a new product idea.

10. read the article “How to Design Your Positioning Strategy,” located at http://www.smithfam.com/news/oct00x.html.http://www.smithfam.com/news/oct00x.html After reading the article, use the suggestions provided to develop at least one strategy for positioning his/her new product. After developing the strategy, also create a positioning statement that aligns with the strategy. When finished, students should share their strategies and positioning statements with each other and explain your rationale for the strategies. Provide each other with feedback and advice for improving their strategies and positioning statements. Finally, revise your work as appropriate and add your strategies and statements to your folder.