Positioning is the conceptual place you want to own in the target consumers mind the benefits you want your target market to think of when they think of your brand. Successful brands and businesses must be relevant to the target market be unique versus the competition and be credible and attainable. Remember part of positioning was segmenting the entire market to determine your overall target market. Every decision made should reflect the target market and what the needs and wants are of this group. Based on the venture business plan you have created in a previous course complete your business positioning plan.
Part One:To create your companys position. Complete the following questions.
1. Definition of Target Markets
2. Key Benefit(s) Delivered
Part Two:When creating the brands position there are a few different strategies that we discussed within the presentation. Based on the examples below choose which strategy would best fit the company and the products being offered. After you choose your strategy write the reason(s) why you have chosen this strategy.
Position and own the category benefit
Position the product and the consumer
Position how the company does business
Position against the competition
Part Three:Finally determine if the business will be an international venture or remain domestic. For instance:
Support your paper with at least three (3) resources. In addition to these specified resources other appropriate scholarly resources including older articles may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.
Length: 5-7 pages (not including title and reference pages)
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