Product positioningis about establishing the product in the consumer's perceptual map in a position relative to other products. It is important that the position corresponds with the actual product attributes, or cognitive dissonance (dissatisfaction) will follow. Positioning needs to be carried out with a competitive edge so as not to cannibalise the firm's own products, and also (often) not to meet its competition head-on unless there is a real competitive advantage in the product.
There is, of course, a need for market research to monitor the positioning of the product (where is it now, and where it will be following the campaign). Since there is considerable inertia in the minds of the population, it takes some time for a change in positioning to be effected: marketers should therefore be cautious about trying to make rapid or frequent changes in positioning. NPD is extremely risky; eight out of ten new products eventually fail (i.e. do not recover their development costs) and the remaining two out of ten thus have to fund all the others. Great effort has been expended on trying to find better ways of forecasting a product's prospects in the market, with only limited results. First of all, it is necessary to define what a new product is, and the researchers Calentone and Cooper have identified nine categories of new product. The clusters were identified according to whether the product was new to the firm or new to the world, and whether there was a production or marketing synergy with the firm's existing products.
We are here to help students on Marketing studies and provide valuable assignment/homework help on Business Marketing, Online Marketing and Product Positioning worldwide. School, College and University level students can find assignment help on Business Marketing plans and development. Our expert online tutors provide answers to all of your problems regarding the Product Positioning, Business assignment help and Online marketing.