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Effective Product Positioning Strategies for Market Success

Learn how product positioning impacts consumer perception, the importance of understanding consumer needs, targeting underserved markets, and using niche marketing for market share growth. Discover product life cycle strategies to navigate through introduction, growth, maturity, and decline stages effectively.

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Effective Product Positioning Strategies for Market Success

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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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