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Labelling labelling incorporates all the written

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• LabellingLabelling incorporates all the written information about your product and usuallytakes the form of an adhesive sticker, a tie-on tag or a printed piece of packaging.Product positioningProduct positioning is the way a product or service is seen by consumers and howthey view its important attributes in relation to competitor’s products. For instance acar can be positioned on the basis of style, performance, safety or economy whilst acomputer might be positioned on the basis of speed, capacity, reliabilityChoosing and implementing your product positioning strategy is an important task.You need to determine your product’s competitive advantages (ie: what sets it apartfrom its competitors) and then based on this information, decide how to position youroffering in the market. Quality, features, design, branding, packaging, labelling andservice all affect the way your product is positioned.The importance of service in your product strategyMany businesses underestimate the importance of quality customer service, butconsumers today are becoming more educated, more discerning, more demanding,and more aware of their rights, so disregarding the customer service element in yourproduct strategy could be a costly error.
7When developing and implementing your customer service policy it’s worthremembering the following points:
371< Pricing Research..Primary Data.. >Pricing Strategiesdetermine the pricing model that is compatible with the targetmarket and is consistent with the pricing objectives. Pricing objectives can either beto obtain a target return on investment or to grab a target market share. The basicprice strategies are:a) Cost Based Pricing- this suggests to consider the costs and profits objectives ofthe business.

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Term
Fall
Professor
S.Viswanathan

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