Product Positioning

24,831 views

Published on

Published in: Business, Technology

Product Positioning

  1. 1. Product Positioning Anuradha Sridharan Product Manager Cleartrip
  2. 2. Think about your product or service
  3. 3. Unique position that a product occupies in the mind of a consumer
  4. 4. Web Search “Reliable” - Google “New” - Bing My mind space E-Commerce “Reliable” - Flipkart “Saves time” - IRCTC “Simple” - Cleartrip Email “Emotional” - Yahoo! “Productive” - Gmail
  5. 5. Created using http://www.wordle.net
  6. 6. Why? "Positioning is the single largest influence on the buying decision.” Geoffrey Moore in his book “Crossing the Chasm”
  7. 7. Who owns positioning? Product Management OR Product Marketing
  8. 8. Positioning <> Tagline
  9. 9. Positioning Name Logo Creative Message Requirements Product Design Tagline Brand
  10. 10. Pre-Requisites  Segmentation of the market  Identification of Target segments  Competitive Analysis
  11. 11. Emergence Growth Maturity Decline Market Life Cycle Positioning varies with market phase
  12. 12. “It's not enough to invent or discover something. You must be first to get into the prospect's mind” Al Ries and Jack Trout
  13. 13. New Product Category Start with who you are not! Horseless carriages Frost-free refrigerators Tubeless tires Cashless payments
  14. 14. Existing Product Category Who is your target audience? What is the one most important problem of your audience? What is the one most important benefit of your product? Why is your product better than your competitors' products?
  15. 15. Positioning Statement Sentence #1  For (target customer)  who (statement of the need or opportunity),  the (product/service name) is a (product/service category)  that (statement of benefit). Sentence #2  Unlike (primary competitive alternative),  our product (statement of primary differentiation).
  16. 16. Kindle - “Take your book library with you” Access to over 200,000 books Longer battery life Read from anywhere Sleek interface Light weight (241 grams) No glare Picture Credits: http://www.amazon.com
  17. 17. Cleartrip for Business Problems faced by our target audience − No transparency in travel costs − Less control Positioning: Comprehensive travel management solution Product − Ability to define travel booking policies − Get a snapshot of travel booking trends − Link travel expenses to departments, cost centers and projects
  18. 18. A few pointers  Keep it short and specific  Stick to one target customer's problem you will solve and one significant benefit your product offers in relation to competition  Share your positioning statement with all Internal stakeholders (customer service, sales, technical support, design, engineering, marketing)
  19. 19. B2B Products  Basic Principles remain the same!  Focus on channel strength (delivery model) − Reseller capabilities − Support systems
  20. 20. Validation Does your positioning strategy − Match with your target customers' needs? − Compare your product/service with respect to competition?
  21. 21. Expected Outcome  Differential advantage  Distinctive Image  Instant recall from consumers
  22. 22. Repositioning story from Jack Trout http://www.youtube.com/watch?v=3YaSF2_K9l4
  23. 23. Source: http://www.engrish.com/
  24. 24. Thank You!! Contact me at Twitter: @anura Email: anuradha.sridharan@gmail.com
  25. 25. References Positioning: The battle for your mind by Al Ries, Jack Trout Consumer Behavior 9th edition by Leon G Schiffman, Leslie Lazar Kanuk Crossing the chasm by Geoffrey Moore

×