Marketing strategy Product-positioning strategy and product-repositioning strategy with example minimum 600 words
Product positioning strategy- It can be defined as the position and place of a product in the eyes of a consumer with respect to a competing product.This stragety determines the promotion of a product according to the needs and preferences of the customers that could result in gaining competitive advantage. Below are some steps mentioned for product positioning
1.Research over competitors
2.Determine unique purchasing positions.
3.Construct targets and goals
4.Analyse and adjust.i.e be sure to add different sets of opinions through market researchand interval evaluations.
Product repositioning strategy- Changing the target markrt of the product is known as product repositioning. It includes the key changes, such as competitive advantage, benefits and use. It creates a new image of a product in the eyes of the customers. It can give the strong competitive postion, improved sales, potential media attention,Etc.