Positioning: Position the product to a different target market. Eg. Dove markets its product as a moisturiser rather than a soap
The 4 P's
Price: Using competitive prices to gain advantage over other competing products in the market.
Production Concept: The idea that consumers will respond favourable toward products that have higher quality, services, performance and features.
Differentiation: Maketing a product that is more attractive to a target market.
Edward Chamberlin Theory, 1993
Contrast: The unique aspects of the competitors focus
Product Positioning: A unique selling proposition appealing to a different target market. The aim is to create an 'image' in the minds of customers.
Customer Perceived Value: The product with the highest CPV will usually have competitive advantage over other products in the market. The aim is to create high CPV through customer loyalty, price, product etc.
Examples: PowerAde, Gatorade
Product Innovation: Create a product that has new, ground breaking features. Therefore creating product differentiation.
Promotion: Heavy sales pitches, advertising, and sales.