What is a Product Positioning Plan?
A product positioning plan is a strategic plan that outlines how you will position a product in the marketplace. It involves developing a clear identity for your product, analyzing your competition, and utilizing a variety of marketing tactics to create a competitive edge. The plan should detail how you will differentiate your product from others, identify your target market, and develop a strategy to reach that market.
What's included in this Product Positioning Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Product Positioning Plan template for?
This product positioning plan template is designed to help marketing teams of all sizes and industries create a plan to position their products in the market. It is designed to help teams determine their product’s focus areas, set measurable targets, implement related projects, and ultimately drive results.
1. Define clear examples of your focus areas
Focus areas are the main topics that you will cover in your product positioning plan. These can be based on anything from increasing product recognition to improving product accessibility. Examples of focus areas could include increasing brand awareness, increasing product reviews, expanding product distribution, and increasing your online presence.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that you want to accomplish within the focus area. Objectives should be measurable and achievable. Examples of objectives could include increasing social media followers, increasing product reviews, expanding product distribution to more retailers, and increasing the number of online stores selling the product.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (key performance indicators) are specific metrics that you use to measure your progress towards achieving the objectives. Examples of KPIs could include increasing social media followers by a certain number, increasing product reviews by a certain number, and increasing the number of retailers and online stores stocking the product by a certain number.
4. Implement related projects to achieve the KPIs
Projects (or actions) are the initiatives that you will do to achieve the KPIs. Examples of projects could include increasing your social media presence, increasing product reviews on third party sites, expanding product distribution to more retailers, and increasing the number of online stores selling the product.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is the perfect tool to help you manage and track your product positioning plan. With Cascade, you can set up your plan in minutes, track progress in real time, and see faster results from your strategy.