 Good evening everyone, our group is going to present on product positioning. Sherith, next slide. Okay, in this topic, we are going to discuss what is product positioning, components of positioning, marketing positioning map, why easy steps for brand positioning, what are the real examples of market positioning map, what are the types of market positioning, product positioning process and approaches to product positioning strategies. Next slide. Okay, what is product positioning? Product positioning is nothing but the process by which marketers are going to determine the best way in order to communicate their product attributes to the target customers based on customer needs, competitive pressure, availability of communication channels and carefully crafted key messages. Carefully crafted key messages are nothing but the messages which are designed to convey how your product is different and better when compared to the competitive products as well as to address your value addition attributes which are important for the customers. Next slide. What are the components of product positioning? The components of pricing, retailer mix, media reviews, word of mouth, packaging, product features, competitor claims, integrated marketing communication mix. Integrated market communication mix is nothing but the public relationships, corporate communications, advertising, marketing and publicity functions. All this corroborately comes under the integrated marketing communication mix. From next slide, our friends are going to continue. Thank you. Market positioning map. It means it illustrates the range of the positions that a product can take in a market based on two dimensions that are important to customers. Like the two dimensions are the dimensions are like a price, quality, volume, luxury and heavy complexity. So based on these product can take a position like low price to product and high price to product, basic quality product, high quality product. Let me explain it through an example like in this figure, there are many fitness related, fitness related institutions like there are four positions. Like in this field health, the product stays in the broad range of services and low price. So it will gain the market share eventually and the active this institute, this company will eventually lose the high priced or rich customers go to a broad range and high priced position products. And like is the product stays in the position of high price and low range of services. It eventually loses the market share. So this beautiful matrix explains so well. Thank you so much. So just for product positioning, one of the major key factors is also market positioning. And here are the five easy steps to use market positioning for accelerating product growth. The first thing is like initially as we have said about the hidden messages that we have to give. So relative to our competing brands, we have to make sure that our product matches our consumers needs. That is the first thing. For this, we have to leverage our market positioning. Next, we have to invest in strategic alliances. We can't win alone. We have to use their external resources also. And this will also help in accelerating growth by using alliances of our of other companies. Third thing is data mining. We have to do as much data mining as possible to understand all the opportunities and also to understand our customer. This will only help us in better product positioning of the product. Next, when we are successful, there is always a requirement for change and innovation. As new products should come within the existing business. Our existing business has given us a good market position. But new products, if we leverage this position for introducing new products, we can increase our share. Next, we have to pursue strategies that will create value for all the customers. This includes both product and service. As previously I have seen, the gym is like a service and the products are things which the gym is selling to the customers. So we have to use these both things to leverage our product placement in the market place. The next is the types of positioning the product in the market. It depends upon the pricing, price of the product and quality of the product and differentiation of the product. Differentiation means the product should be different from the existing ones. Convenience, the product should make the consumers life easy. And customer service, a good customer service increases the successful interactions between the company and the customer. User group, this type of positioning targets a particular group of users and explains why the company's offerings are directly applicable to the customers. Next. Okay, here comes the product positioning process. It is the process through which the product should be positioned in the market. So there are several steps in this process. The first step is define the market where the product will compete. So we have to define the market like one or rural or international or international like this. We have to define the market where the product will compete. Next is identify the attributes to find the product space. Means the product will reach into the market. So we have to define the space for the product, whether it will be competing with the other product or not. Like this, collect information about the customers and other attributes. And if you determine each product share of the company and determine other products along with your product that you are going to place in the market. And determine the target market preferred combination of attributes. Means what are the attributes that you are combining with the product which you are launching into the market. And the last one is examining the fit between the product and the new market. Thank you. Next. So this includes the product benefits. Most use strategy is the product benefits. Things like things a product offers to satisfy the needs, desires and wants of the customers. And price approach the same product class. There are usually other brands that appeal on the basis of the price. So and product attributes, the characteristics of the products enabling you to uniquely describe a product. So product categories like group of products that offer similar benefits can be referred as the product categories. Like we can take luxury goods like BMW Mercedes etc. Next usage of in special occasions. So the customer will be looking for some special products. Some specific products in some occasions and competition strategies. Like keeping in mind the strength and weakness of the competitors. Company plans a long term plan of action. This is called the competition strategies. Thank you. Thank you very much. Superb. Thank you.