Positioning a new product for success

Positioning a New Product for Success
Name of Student
Institution Affiliation
Positioning a New Product for Success
Brand positioning is a critical factor that influences the success of an organization in our society today amid fierce competition. Product positioning ensures that the company has the target market segment at hand and has identified the critical characters and needs of the consumers. Product positioning strategy involves implementing the company’s unique benefits and differentiating the customers’ needs (Kotler & Armstrong, 2014). Positioning a new product for success involves fulfilling the needs of the customers, differentiating products to maintain a competitive edge and to remain relevant in the market place to weed out the competition. Product positioning involves placing products and services at a suitable position to alter customers’ perceptions favorably that translates into reality through increased sales.
Positioning a product aims to attain an active and loyal clientele that would enable the organization to employ premium charges, increase sale revenues and to achieve more effective marketing programs. Three critical features define product positioning. First, product positioning involves differentiating a product from other similar products offered by the competitors. Second, product positioning consists of articulating its characteristics to be more identifiable to clients. Lastly, product positioning entails addressing and covering every aspect of a customer’s buying criteria so that their decision to buy has the company’s product in their minds.
Positioning a new product for success involves the implementation of well thought out strategies that will result in product success. Some of the effective product-positioning strategies are as follows:
* Understanding the target market
The strategy involves gathering and interpreting information which relates t...