1,000–1,500 words: Researching Marketing Approaches

In an effort to know exactly how to position the product among its competitors, consider the industry or product category that you are working with. To help you reposition the product, conduct the following research:

1. Perform a SWOT analysis on your client’s product.
2. Conduct research to find out the extent of the product’s current customer satisfaction. This will be part of your situational analysis and customer profile in the final plan.
   • Develop a survey of at least 5 questions to probe for customer feedback.
   • Send the survey to at least 5 people and tabulate results.
   • Based on the results, communicate the results back to your client regarding the company’s current product offering.
3. Add a conclusion, stating how you will position the product in the market. A few positioning options are as follows:
   • Product attribute based on the product’s features
   • Intangible factors, such as abstract or subjective
   • Competitive based on image
   • Pricing in terms of competitor’s pricing
   • Application or best to use
   • Celebrity spokesperson