For marketing strategy product positioning is an essential element. Product positioning is an avenue to understand how to preach the product attributes in the best possible manner in the target market. While determining this it is important to assess customer requirement, competitor’s position, possible communication channel etc. Our market research experts ensure that they consider all the necessary elements while providing reports on market positioning.
Our experts emphasizes on the following key factors.
- Customer Needs: Effective product positioning requires a clear understanding of customer needs so that the right communication channels can be identified.
- Competitive Pressures: It is important to weigh competitive pressure, since positioning of product will be effective only when point of preferences of product attributes over the competitor’s product are conveyed clearly to the target customers. Thus it is important to identify and delineate how the company’s product or services are different than that of competitors.
- Communication Channels: It is not only important to identify point of difference in company’s product or services in comparison with competitor’s offerings, it is, rather equally important to communicate effectively to the target customer through proper communication channel. At Pristdel we assist our client to identify the best channel of communication as well as facilitate in communicating key message to the targeted market.
- Key Message: The final challenge in effective product positioning is conveying the distinguishing, value-added features of the product or service to the target market through the selected communication channel. We design these messages to convey the differentiating aspects of our client’s product or services in comparison to their competitive offerings, as well as to address the value-added attributes that are significant to highlight to the target customers. Product positioning is the fundamental element of market strategy since its analysis directly has impact on final purchase decision.
Other than theses we also cover various other aspects a per the requirement of our client these are - details of target audience, product features identification, exclusive selling schemes, ways to promote brands, maintain the position of the brand etc.