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Positioning Your Product or Service in a Competitive Marketplace

Carl ThompsonRose Group Marketing

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Do I Have a Good Product?

• What benefit does my product offer or what problem does it solve?

• Is this unique or better than any existing options. Why?

• Is it easy to understand the benefit?

• How big is the market?

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Do I Have a Good Product?

• What benefit does my product offer or what problem does it solve?

• Is this unique or better than any existing options. Why?

• Is it easy to understand the benefit?

• How big is the market?

• Technology driven vs. market driven product

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Market Driven or Technology Driven

• Market driven products created to serve an existing, well defined consumer or business want or need.

• Technology driven products are created as a result of emerging technology that has the potential for serving a new want or need.

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Market Driven or Technology Driven

• Push vs. Pull marketing.

• Push is more difficult, and usually more expensive

• Pull can be an easier “sell” - but usually requires a significant technology upgrade for success

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Congratulations you have a good product

Where do you go from here?

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Target Audience

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Target Audience

• Market segmentation-- The process of segmenting a mass homogenous audience into discrete, actionable groups that are defined by similar wants, needs, and media usage patterns.

• Not about demographics, think psychographics.

• Best to think in terms of lifestyle cues and dominant traits.

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Target Audience

• The process of dividing the mass audience into discrete, actionable groups that are defined by similar wants, needs, and media usage patterns.

• Not about demographics, think psychographics.

• Best to think in terms of lifestyle cues and dominant traits.

• Don’t guess…know.

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Product Positioning

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Positioning Statement

A positioning statement defines the benefit of your product service to your target customer, and states how you’re different from your competitors.

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Positioning Statement

A positioning statement defines the benefit of your product service to your target customer, and states how you’re different from your competitors.

It is not a slogan or a tagline!

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DNA of a Positioning Statement

Our product (Company, Service, Technology) provides the (target customer) with (key benefit) because (reason they should believe you can deliver the benefit).

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DNA of a Positioning Statement

Our product (Company, Service, Technology) provides the (target customer) with (key benefit) because (reason they should believe you can deliver the benefit).

For American body conscious women age 30-45, Dove is the only soap that will keep their skin soft as it cleans because it has 1/4 moisturizing lotion.

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Positioning statement actualized

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DNA of a Positioning Statement

• Is my positioning statement true?• Is it relevant to a large target audience?• Is it clear?• Does it provide a distinctive and meaningful picture of my

brand?• Does it differentiate my brand from the competition?• Will I use it?

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Not Sure Where to Start?

• Pick the two most relevant features of your product category besides price and quality.

• Chart your product vs. the most relevant competition.

• Brand mapping

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Brand Map

Example. Speed

size

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Brand Map

Example. speed

size

Product A

Product B

Product C

Product D

Product E

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Brand Map

Example. taste

Low calories

Product A

Product B

Product C

Product D

Product E

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Summary

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Summary

• Understand if you are serving and existing need or creating a new one through your marketing efforts

• Have a clear, quantifiable picture of your target audience

• Know exactly how to position your product success

• Stay focused

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Questions