Assignment: Product Mix Strategy
Positioning refers to the development of a distinct image for the product or service in the mind of the consumer. This is essentially an image that will differentiate your offering from competing ones. This message faithfully communicates to the target audience that the particular product or service will fulfill their needs better than competing brands. Several reasons why your brand is better are typically carefully spelled out.
Successful marketing positioning centers around two key principles: first, communicating the benefits that a product will provide rather than the product's features. As one marketing expert once explained consumers do not buy drill bits-they buy ways to make holes.
That's essentially the challenge of a new product manager. They must discover a way to position their product apart from the competition ... decide what it's key selling point is, how it's better than the rest and why consumers should invest.
1. Can you share a brand and its positioning statement?
2. What does their product or service offer, and what does it do better than the competition?
3. What is a brand, and how does branding work?
4. What is brand equity?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.