Product positioning refers to determining the position of a company’s products in the minds of consumers. Every company’s products have their own unique market positioning. Specifically, there are mainly the following types of product positioning strategies:
Product specialization strategy. That is to say, the product portfolio is relatively simple. For example, Coca-Cola Company has implemented a product specialization strategy for a long time. The company provides the same Coca-Cola products to consumers around the world with unified products, packaging, prices and publicity. This strategy regards consumer needs as indifferent to a certain extent.
Product differentiation strategy. That is to say, through its own marketing efforts, the company allows the product portfolio to develop in breadth and depth. For example, as a company, Coca-Cola has produced products such as Queer on the premise of fully meeting the diverse needs of consumers, meeting the needs of consumers from more angles.
Product marginalization strategy. That is to say, the product portfolio has shifted from depth to relevance. For example, taking Goldlion as an example, its product portfolio was originally only men’s ties of various levels, series and specifications, but now its products cover all clothing and many other fields, meeting the life needs of consumers from multiple aspects.
Product diversification strategy. This strategy mainly refers to the development of product portfolio from relevance to breadth, or from depth to breadth. For example, Haier Company initially started with refrigerators. After decades of development, it now has more than 800 project products of more than 40 types. Haier Company has very well realized the development of product portfolio from relevance to breadth, and from depth to breadth, thus realizing the strategic shift of the company in production and operation. Today, Haier products have successfully gone global and localized production has been achieved in many countries.