In this video 280 Group CEO and Founder, Brian Lawley, is joined by Senior Consultant/Trainer, Tom Evans, who is a Product Management and Product Marketing expert.The topic is why good product positioning is so critical for your product and your messaging.
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Product positioning is one of those topics that Tom finds to be highly misunderstood in the marketplace.
Let’s start with an example: several years ago Tom was reading a book, and the author, who is very knowledgeable in marketing, said “once you have built your product, now you want to define the positioning for your product”. Tom wanted to throw his hands up in the air and exclaim that that was completely wrong. That is the wrong order, we don’t want to start with the product and then define the positioning, we need to start with the positioning and then that defines our product.
If you don’t know how you want to position your product in the marketplace, how do you know which product to build for the marketplace?
Not only is product positioning important for defining your product, it’s important for defining all of the other elements of your 4 Ps of marketing. For those who may not be familiar with the 4 Ps of marketing, those are Product, Price, Promotion, and Place.
Starting off with the product positioning is a really key decision that you need to make as a Product Manager; we consider it at 280 Group probably the most important strategic decision that you need to make when you are planning to take a product in to the marketplace.
So again what needs to be focused on, don’t build your product before you define your positioning, clearly define the position that you want to take in the marketplace, then you can start defining what product is going to allow you to support that decision in the marketplace and all of the rest of your strategies around pricing, how you’re going to promote it, and what your distribution strategy is going to be.