Business Management SL
Business Management SL
6
Chapters
175
Notes
Unit 1 - Introduction To Business Management
Unit 1 - Introduction To Business Management
Unit 2 - Human Resource Management
Unit 2 - Human Resource Management
Unit 3 - Finance & accounts
Unit 3 - Finance & accounts
Unit 4 - Marketing
Unit 4 - Marketing
Unit 5 - Operations management
Unit 5 - Operations management
Unit 6 - Assessment
Unit 6 - Assessment
IB Resources
Unit 4 - Marketing
Business Management SL
Business Management SL

Unit 4 - Marketing

Unlocking Product Positioning: Key Tools & Strategies

Word Count Emoji
653 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 14th Jun 2024

Table of content

Main Concept

Product positioning is all about how consumers see a product compared to its competition. Imagine a marketplace filled with products shouting, “Pick me! Pick me!” ๐Ÿ“ฃ Positioning helps a product stand out in this loud market.

Why Positioning Matters

 Ever felt overwhelmed at a buffet with too many choices? Consumers feel the same way in the market. Positioning helps them categorize products, making it easier for them to choose. For businesses, it’s about creating a unique space for their product.

How to Nail Positioning

  •  Know What Matters: Start by identifying what consumers care about. Is it the quality? The price? The brand image? Maybe it’s like choosing between a fancy gourmet burger ๐Ÿ”, a budget-friendly street burger ๐Ÿ”, or a vegan burger ๐Ÿ”. Each has its appeal.
  •  Pick the Best Features: Once you know what matters, decide which features of your product you'll emphasize. It’s like dressing up for a date. What’s your best feature? Flaunt it!
  •  Communicate: Finally, use your marketing mix (the 4Ps: Product, Price, Place, Promotion) to tell your target customers about your product’s unique position. This is like telling your date, “Hey, I’m funny, smart, and love dogs ๐Ÿถ.” It sets you apart!

Unlock the Full Content! File Is Locked Emoji

Dive deeper and gain exclusive access to premium files of Business Management SL. Subscribe now and get closer to that 45 ๐ŸŒŸ

Nail IB's App Icon
IB Resources
Unit 4 - Marketing
Business Management SL
Business Management SL

Unit 4 - Marketing

Unlocking Product Positioning: Key Tools & Strategies

Word Count Emoji
653 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 14th Jun 2024

Table of content

Main Concept

Product positioning is all about how consumers see a product compared to its competition. Imagine a marketplace filled with products shouting, “Pick me! Pick me!” ๐Ÿ“ฃ Positioning helps a product stand out in this loud market.

Why Positioning Matters

 Ever felt overwhelmed at a buffet with too many choices? Consumers feel the same way in the market. Positioning helps them categorize products, making it easier for them to choose. For businesses, it’s about creating a unique space for their product.

How to Nail Positioning

  •  Know What Matters: Start by identifying what consumers care about. Is it the quality? The price? The brand image? Maybe it’s like choosing between a fancy gourmet burger ๐Ÿ”, a budget-friendly street burger ๐Ÿ”, or a vegan burger ๐Ÿ”. Each has its appeal.
  •  Pick the Best Features: Once you know what matters, decide which features of your product you'll emphasize. It’s like dressing up for a date. What’s your best feature? Flaunt it!
  •  Communicate: Finally, use your marketing mix (the 4Ps: Product, Price, Place, Promotion) to tell your target customers about your product’s unique position. This is like telling your date, “Hey, I’m funny, smart, and love dogs ๐Ÿถ.” It sets you apart!

Unlock the Full Content! File Is Locked Emoji

Dive deeper and gain exclusive access to premium files of Business Management SL. Subscribe now and get closer to that 45 ๐ŸŒŸ