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Chapter 7

MKT 504- Chapter 7


Department
Marketing
Course Code
MKT 504
Professor
Roy Morley
Chapter
7

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CHAPTER 7: Product-Selling Strategies That Add Value
Product Positioning: A product-Selling Strategy
Positioning: decisions and activities intended to create and maintain a certain conception
of the firm’s product in the customer’s mind
-Must be continually modified to match customer’s changing needs and wants
-Requires developing a marketing strategy aimed at influencing how a particular market
segment perceives a product in comparison to the competition
-Done well means the product’s name, reputation, and niche are well recognized
Achieving Product Differentiation in Personal Selling
Differentiation: ability to separate yourself and your product from that of your
competitors
-On the basis of quality, price, convenience, economy, or other factors
-Key to building and maintaining a competitive advantage
-Creates barriers that make it difficult for the buyer to choose a competing product on the
basis of price
Creating a value proposition
Value proposition: set of benefits and values the company promises to deliver to
customers to satisfy their needs
-Best if quantified
-Especially true with business buyers
The cluster of satisfactions concept:
Satisfactions: the positive benefits that customers seek when making a purchase.
Arise from the:
-Product/service itself
-Company making or distributing the product
-Salesperson who sells and services the product

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Product Selling Model:
-Knowledge helps you achieve product differentiation, understand the competition, and
prepare an effective value proposition
-Competitive analysis worksheet can help
-Be careful not to use technical jargon to impress but benefits that result from the
technology
Product-Positioning Options:
There are various product-positioning strategies depending on the situation:
1) Position new and emerging products versus mature and well-established products
2) Position products with price strategies
3) Position products with value-added strategies
Product Life Cycle – stages of a product from the time it is first introduced to the market
until it is taken off the market; including the stages of introduction, growth, maturity, and
decline
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