1. 5.02 Explain product positioning

2. positioning Getting consumers to think of a product in a certain way.
Ways to segment a market:
Demographics
Psychographics
Geographics
Behavioral
Hybrid

3. Explain product positioning
The consumers’ perception impacts image.
Marketers must understand the consumer’s attitudes and needs affecting their perceptions of the product.
Consumer perceptions are based on experiences.
Products should be positioned based on image.

4. Explain Product positioning (continued)
Niche Marketing
Targeting an underserved market.
Usually smaller markets with specific needs.

5. Explain Product positioning (continued)
To increase market share, companies may choose to utilize a multi-positioning strategy.

6. Product Life Cycle StrategiesM G
Product Life Cycle Strategies D I
Introduction stage: stimulate consumer interest and create awareness.
Growth stage: stress benefits of a product over its competitor’s products.
Maturity stage: repositioning a product.
Decline stage: greatly reduce marketing or drop product due to poor sales.