Positioning a New Product or Service

Effective product positioning deals with product or service differentiation that is intended to win customers' hearts and minds in times of marketing new products or services. Moreover, positioning products or services starts, first of all, with defining marketing segmentation and then understanding target market values.

In essence, a positioning strategy should focus on and align with the product differentiation strategy. The product or service should be somehow unique, better, economical, profitable for the market, or else have some distinctive criteria that will differentiate it from the other available products and services. However, these points of differentiation must be important and valued by the customers themselves; it is said that “beauty lies in the eyes of the beholder.”

Indeed, whenever the entrepreneur introduces a new product, the new ...