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Definition: Positioning defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer. Description: A good positioning makes a product unique and makes the users consider using it as a distinct benefit to them. A good position gives the product a USP (Unique selling proposition). In a market place cluttered with lots of products and brands offering similar benefits, a good positioning makes a brand or product stand out from the rest, confers it the ability to charge a higher price and stave off competition from the others. A good position in the market also allows a product and its company to ride out bad times more easily. A good position is also one which allows flexibility to the brand or product in extensions, changes, distribution and advertising.
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What do you mean by product positioning?Product positioning is a form of marketing that presents the benefits of your product to a particular target audience. Through market research and focus groups, marketers can determine which audience to target based on favorable responses to the product.
What are the basis for positioning a product?Some major types of product positioning are:. Price. The price of the product plays a crucial role in the probability of it being chosen by the customer. ... . Quality. ... . Differentiation. ... . Convenience. ... . Customer Service. ... . Targeted Customers.. What market consists of products ideas and services that a person can purchase for personal use?marketing 1 chap 1 vocabulary. Which tool is useful when trying to visualize how the product is positioned compared to competitors?A radar chart is a tool that you can use to compare the products of your competitors based on different characteristics.
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