Briefly explain how the product should be updated

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Product positioning is also known as market positioning, and it means to determine what place the product will hold relative to the competitor's products.

For example a low end retailer is Walmart and a high end retailer is Neiman Marcus. In your opinion, what restaurant has the middle-ranged consumer as its target market? Briefly explain why you chose that store.

Repositioning or product repositioning means to change the perception of a product or brand in the mind of the consumer in relation to the competitor's brands. One example is oatmeal.

In your opinion, what product needs to be revised, repositioned, or repacked? Briefly explain how the product should be updated.

Reference no: EM131823715

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