How do you know if you’ve accurately positioned your product within a market? How do you know if you are in the right market? How do you know if your market will see value in your product? These are all very basic but essential questions that all product marketers must ask themselves. Regardless of what your company produces, you should be constantly reviewing your product positioning strategy. A simple way to start is to ask yourself the following questions:
1. WHO is my target audience?
2. WHAT problem does my product solve?
3. HOW does my product solve the problem?
4. WHAT benefit does my product provide my market?
5. HOW does my product differ from others?
Granted, the questions may seem simple, but the answers will often be much more complicated. These questions should be used as a basis for your positioning strategy, but definitely be examined in more detail. For example, you may be able to answer who your target audience is, but is that audience large enough to form a market?
If you want your product to be a market success, it is essential to position it correctly. If you cannot answer these 5 questions, your positioning strategy may need some attention.
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