The market strategy used to position a product is usually a result of an analysis of the customers and competition.
Before a product can be positioned, you need to answer several strategic questions such as:
1. How are your competitors positioning themselves?
2. What specific attributes does your product have that your competitors don't?
3. What customer needs does your product fulfil?
4. Is there anything unique about the place of origin?
It involves following:
- Projecting Market Share
- Pricing Your Product
- Evaluating Distribution Channels
- Identifying Sales Potential
- Developing Promotion Plans