Industry Data & Market Research

Strategic Planning with the Product and Marketing Positioning Framework

Product and Marketing Positioning is a technique that enables better strategic planning in business.

Positioning is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. It is the 'relative competitive comparison' their product occupies in a given market as perceived by the target market.

There are three main types of positioning:
  • Functional positions: about solving problems, providing benefits to customers, and gaining favorable impression from investors
  • Symbolic positions: self-image, social meaning
  • Experiential positions: sensory or cognitive stimulation

The process of developing a position consists of:
  • Defining the market in which the product or brand will compete (who the relevant buyers are)
  • Identifying the attributes (also called dimensions) that define the product 'space'
  • Collecting information from a sample of customers about their perceptions of each product on the relevant attributes
  • Determine each product's share of mind
  • Determine each product's current location in the product space
  • Determine the target market's preferred combination of attributes (referred to as an ideal vector)
  • Examine the fit between the position of your product and the position of the ideal vector
  • Position.

Other Strategic Planning Frameworks

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