BUSI 2201U Lecture Notes - Lecture 12: Value Proposition
Document Summary
Product positioning: the place an offering occupies in consumers" minds on important attributes relative to competitive products. (be the first/be unique) Product repositioning: changing the place an offering occupies in a consumer"s mind relative to competitive products. Clarity: value proposition which they are going to serve to target market. Consistency: first year quality of service, second year product performance. Product positioning refers to the place an offering occupies in consumers" minds on important attributes relative to competitive offerings. Sentence #1: for (target customer, who (statement of the need or opportunity, the (product/service name) is a (product/service category, that (statement of benefit) Sentence #2: unlike (primary competitive alternative, our product (statement of primary differentiation) Head-to-head positioning: competing directly with competitors on similar product attributes in the same target market. Differentiation: seeking a less competitive, smaller market niche in which to locate the brand, stressing the unique aspects of the product.