Question 1: The process which determines what place will be occupied in the given market with the ongoing products is called positioning. Explain different ways to position a product, service and idea with the help of example.
There are nine steps involved in positioning strategy:
- Identify the competitor
- The competitor is how know and perceived by the competitor
- visualize the strategy used by the competitor or competitors either same product or service
- Try to understand customer thoroughly
- Try and think about different positioning strategies available.
- Thin about the position which is vacant and not used.
- check and evaluate your own strength and weakness.
- No select the position.
- monitoring and evaluation of the position: