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5.02 Explain product positioning

5.02 Explain product positioning. positioning. Getting consumers to think of a product in a certain way. Ways to segment a market: Demographics Psychographics Geographics Behavioral Hybrid. Explain product positioning. The consumers’ perception impacts image.

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5.02 Explain product positioning

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  1. 5.02 Explain product positioning

  2. positioning • Getting consumers to think of a product in a certain way. • Ways to segment a market: • Demographics • Psychographics • Geographics • Behavioral • Hybrid

  3. Explain product positioning • The consumers’ perception impacts image. • Marketers must understand the consumer’s attitudes and needs affecting their perceptions of the product. • Consumer perceptions are based on experiences. • Products should be positioned based on image.

  4. Explain Product positioning (continued) • Targeting an underserved market. • Usually smaller markets with specific needs. Niche Marketing

  5. Explain Product positioning (continued) • To increase market share, companies may choose to utilize a multi-positioning strategy.

  6. M G Product Life Cycle Strategies D I • Introduction stage: stimulate consumer interest and create awareness. • Growth stage: stress benefits of a product over its competitor’s products. • Maturity stage: repositioning a product. • Decline stage: greatly reduce marketing or drop product due to poor sales.

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