What are the steps involved in competitive positioning strategy?

Competitive positioning strategy is required in every company and it is the foundation of the business. This allows the latest technology to be used and expand the business dynamically with the rising demand for the new products by the customers. The steps involved are:

- Select an appropriate profile to market your business: this includes the documentation about the competitors and positioning of them in the market.
- Determining the type/stage of the market the business is in. This includes the types as introductory, growth, mature or declining stage.
- Segmenting market to understand the overall difficulty levels of the market and thinking from the customers point of view.
- Listing the needs of the customers and giving them what they need.