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STP (Positioning (Approaches (Positioning according to product benefit:…
STP
Positioning
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Definition
refers to how customers think about a product, service, or brand relative to competitors.
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Approaches
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Positioning within a category: Within the prestige car category, Volvo is the safe alternative
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Positioning against a competitor: Hungry Jack's tastes better (with implicit assumption 'better than the market leader, McDonald's)
Positioning along price lines: a luxury brand or premium brand, an economy brand
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Positioning by cultural symbols: Australia's Easter Bilby (as a culturally appropriate alternative to the Easter Bunny)
Repositioning
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Repositioning is necessary when the preferences of the market shift. For example, a premium brand of shampoo sold at a relatively high price with advertising that emphasizes its superior performance may need to be repositioned as consumers become more price sensitive.
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