Market Positioning ~ B W C J AOMOLE

Thursday, 20 July 2017

Market Positioning

By BWC J A OMOLE July 20, 2017 No comments:

Positioning is a powerful tool that allows you to create an image. And image is the outward representation of being who you want to be, doing what you want to do, and having what you want to have. Positioning yourself can lead to personal fulfillment. Being positioned by someone else restricts your choices and limits your

opportunities.

Pricing. Is your product a luxury item, somewhere in the middle, or cheap, cheap, cheap.

Quality. Total quality is a much used and abused phrase. But is your product well produced? What controls are in place to assure consistency? Do you back your quality claim with customer-friendly guarantees, warranties, and return policies?

Service. Do you offer the added value of customer service and support? Is your product customized and personalized?

Distribution. How do customers obtain your product? The channel or distribution is part of positioning.

Packaging. Packaging makes a strong statement. Make sure it's delivering the message you intend.

Positioning is your competitive strategy. What's the one thing you do best? What's unique about your product or service? Identify your strongest strength and use it to position your product

The product Nyquil was conceived as a superior daytime cough suppressant. Unfortunately, it made people drowsy. Determined to recoup product development costs, the side affect of drowsiness was then transformed into a powerful positioning strategy. Nyquil became "the night time, coughing, sniffling, sneezing so you can rest" medicine. Nyquil created and owned the nighttime cold remedy market.

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