Module 5: Positioning, Competition, and Branding
Remember, that to develop a positioning strategy, you must understand the key benefits sought by the target market and consider how competitors are already providing those key benefits. How can your organization position itself as being “something different” that will appeal to your target audience?
Your product strategy, etc. develops from your positioning strategy (which involves knowledge of what your competitors are offering). Then you ask, “How can we be different in ways that are meaningful to our target market?” Get your positioning strategy wrong and you can waste a lot of marketing dollars.
Here is an example of a positioning statement template: For (target market), (brand) is the (category) that provides (key benefits) as compared to (competition) and evidenced by (facts).
Specific example: For soccer moms, Volvo is the car that provides both style and safety compared to other mid-sized sedans as evidenced by its recent JD Powers style award and government 5-star crash rating.
In your weekly submission and in your final paper I will look for a positioning statement that uses the above positioning statement template. More information attached.
My research questions:
Positioning (See chapter 10)
What is an appropriate positioning statement for your product/service? Explain the statement.
How is your product/service positioned in the market place? Provide examples and a detailed explanation.
Product to analyze for their MMGP
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