Positioning Essay Example | Topics and Well Written Essays - 500 words

Positioning - Essay Example Product positioning should be focused not only on the present, but should be adaptable for the product and the marketplace in the long term also. (Hiebing Jr., Roman G.; Cooper, Scott W. 2003 pp.145-146). Product positioning focuses on the attributes of the specific product in a market type. First of all, it is essential to understand how the product outperforms the competitors. Adroitly picking one or two key product attributes which are superior as compared to the competition, is important. Attacking competitors along axes corresponding to these attributes is the next critical step. The axes may be: feature/ technology, price/ performance, and channel/ margin axis. In entering an existing market, product positioning specifically influences the value customers place on its new features. (Blank, Steven G. 2006 p.46). Brand positioning is a process of establishing and managing: the images, perceptions, and associations that the consumer applies to the product, based on the values and beliefs associated with the product. These are managed through application of the brand positioning elements (name and graphic components) consistent with the product’s positioning, in all target market communication relating to the company, product or service. Brand represents the values, the personality and the experience that people associate with the company. A brand provides a point of reference: a reason to choose the company, product or service over the competition. (Hiebing, Jr., Roman G.; Cooper, A product like chewing gum can be positioned by Mapping: mapping out visually what is important to your target market in terms of key product attributes. Most effective when based on quantitative research that is representative of the marketplace. This positioning approach will also help to more clearly evaluate how the product and the key competition are perceived on each attribute. The three steps