This document discusses product strategy and positioning. It explains that a product strategy establishes the vision, goals, and initiatives that guide a product's development and marketing. It also outlines different types of products and notes that the strategy identifies a target market and how the product will solve customer needs and benefit the business. The document then discusses product differentiation and positioning, describing various factors and strategies used to distinguish a product from competitors.

1. Product Strategy

2.  A product strategy is the foundation of a product life
cycle and the execution plan for further development.
 Strategy is comprised of three parts:
- vision
-goals
- initiatives
 Companies utilize the product strategy in strategic
planning and marketing to identify the direction of the
company's activities.

3. Consumer
Product
Convenience product
Shopping product
Specialty
Product
Unsought
Product
Business
Product
Raw Material
Component parts
Process materials
Maintenance,Repair
and Operating
products
Accessory equipment
Installation
Business Serives

4.  Market describe the target customer, and need
comprises the main problem that your product will solve.
 The key features and differentiators are those aspects
of your product that make your product unique.
 Business goals describes how your product is going to
benefit your company.

5. 1)Product Differentiation- product differentiation is the
process of distinguishing a product or service from others, to
make it more attractive to a particular target market.
Differentiation Factors –
 Price
 Form
 Features
 Performance
 Quality
 Durability
 Reliability
 Style

6. 2)Product Positioning- Product positioning is a form of
marketing that presents your product to a particular
target audience.
 Product user strategy
 Product class strategy
 Product benefit strategy
 Price and Quality strategy
 Specific product features strategy
 Competitor strategy
 Cultural symbol strategy
 Positioning by corporate image
 Positioning by emotions
 Positioning by highlighting social issues

8.  Balancing supply (capacity) with demand
 Time and place dependency of demand
 Difficulty of evaluating service quality prior to
purchase
 Inconsistency of service quality
 Difficulty in tying offerings to customer needs (i.e.,
the need is not always apparent to customers)