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Product Lifecycle, Positioning, And Differentiation Essay

764 words - 3 pages

In the fast food industry the competition is huge and many times when a niche market is discovered it is a matter of time before competitors notice and "copy, or even improve upon, [the restaurants] unique values or advantages, and therefore the advantage is soon lost" (Voice Marketing, 2009). Understanding the products lifecycle, positioning and differentiation is essential to the restaurants success. If one is ignored the others suffer. Each area can be conquered by distinguishing the restaurant in the following ways.With differentiating the areas that should be considered are features, services, personnel, channel, and image (Kotler, 2009). Features can include things such as quality, performance and design. The area of services might include ordering ease and delivery. With personnel there are many areas that fall under this. A few are competence, courtesy, and responsiveness. Channel cover areas such as the expertise of the managers. Finally there is image and this is important. An effective image does three things for a product or company. First, "it establishes the product's planned character and value proposition" (Kotler, 2009). Second," it distinguishes the product from competing products" (Kotler, 2009) and third "it delivers emotional power and stirs the hearts as well as the minds of buyers" (Kotler, 2009).Kotler goes on to discuss in the article positioning and how positioning "is the result of differentiation decisions". He even lists different positioning strategies or themes.•Attribute positioning: The message highlights one or two of the attributes of the product.•Benefit positioning: The message highlights one or two of the benefits to the customer.•Use/application positioning: Claim the product as best for some application.•User positioning: Claim the product as best for a group of users. - Children, women, working women etc.•Competitor positioning: Claim that the product is better than a competitor.•Product category positioning: Claim as the best in a product category Ex: Mutual fund ranks - Lipper.•Quality/Price positioning: Claim best value for priceA service or products lifecycle is also based on the decisions discussed above. A product or service of any kind has a lifecycle which is a sequence of stages from introduction, growth, maturity and ultimately decline. Presenting a healthy food, fast food restaurant poses challenges. Attention to each of these stages is essential for the continued success of the restaurant.Each of these stages consists of the same areas, product, pricing, distribution, and promotion; however, each area will be handled in a way that connects with the current sage the...

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