Product positioning refers to the many strategies and techniques businesses use to create a particular identity or image in the minds of their target customers. Having a clear idea of how you would like your business to be perceived is a crucial step in the marketing process.
There are many methods and approaches to developing an effective product (or service) position. One of these methods is the product positioning map. This map depicts how your business’s product or service compares to those of your competitors. A product positioning map can be created based on any two applicable factors, such as expense, usability, aesthetics, and long-term value.
For this section of your Course Project, you will compare your proposed business product or service to that of another company in the same industry. You will then create a product positioning map based on this comparison and provide a rationale for your placement.
For this Assignment, select a company in the same industry as your proposed business, and compare the product (or service) positioning of each company. Think about where you want to place your business in the market in relation to the existing company. Refer to the Product – Positioning Map handout for a template of a product positioning map.
To complete this Assignment:
Submit your Week 4 Assignment, “Product Position Map,” in the online classroom by Day 7. This assignment comprises two sections: A product positioning map and a 1-page paper.
This Assignment will be due.
To submit your completed Assignment for review and grading, do the following:
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