{"id":22665,"date":"2020-04-13T13:16:48","date_gmt":"2020-04-13T13:16:48","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/price-positioning\/"},"modified":"2024-12-23T09:21:17","modified_gmt":"2024-12-23T09:21:17","slug":"price-positioning","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning","title":{"rendered":"Price Positioning"},"content":{"rendered":"<p>What is the meaning \/ definition of Price Positioning in the <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hospitality-industry\">hospitality industry<\/a>?<\/p>\n<p>The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a \u201cposition\u201d for your brand in the minds of your target customers that according to the price is consistent to your positioning. When choosing the price you should therefore consider the following criteria:<\/p>\n<ul>\n<li>Compelling to the target customers<\/li>\n<li>Differentiated from competitors<\/li>\n<li>Credible\/believable<\/li>\n<li>Brands can be positioned on different attributes such as functional benefits, emotional benefits, self-expressive benefits, heritage, personality and sensory assets.<\/li>\n<\/ul>\n<p>A different position and a different pricing result in the targeting of a different consumer segment. Price being a strong constrainer to <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/demand\">demand<\/a>, it must be chosen wisely what position in the market your choosing to take, if you product is worth this price and if it can compete with other products in this price range. It is therefore highly important to asses your competitors position, first before making a decision on pricing, as if the value your offering to your clients to this price point of so lesser value then of your competitors \u2013 you will have encounter issues in the long-term.<\/p>\n<p>One way to position your company, in comparison to your competition is by using a price matrix. Below you can see how in the hospitality industry hotels may decide to differentiate themselves.<\/p>\n<p><img decoding=\"async\" src=\"\/wp-content\/uploads\/2020\/07\/price-ositioning_map-xotels.jpg.webp\" alt=\"\" width=\"541\" height=\"422\" \/><\/p>\n<p>Knowing you are positioning, there are many different strategies that will allow you to position your products and services according to your chosen position. Some of which are are <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/market-led-pricing\">market led <\/a>pricing strategy, <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/price-lining\">price lining<\/a> strategy, undercut strategy, skim strategy, surround strategy and flexible pricing etc.<\/p>\n<p><strong>See also:<\/strong><\/p>\n<ul>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/price-lining\">Price Lining<\/a><\/li>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/market-led-pricing\">Market Led Pricing<\/a><\/li>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/flexible-price-policy\">Flexible Price Policy<\/a><\/li>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/competition-based-pricing\">Competition Based Pricing<\/a><\/li>\n<li><a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/pricing-strategy\">Pricing Strategy<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is the meaning \/ definition of Price Positioning in  [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,46],"tags":[],"class_list":["post-22665","post","type-post","status-publish","format-standard","hentry","category-glossary","category-p"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Price Positioning Definition \/ Meaning<\/title>\n<meta name=\"description\" content=\"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a &quot;position&quot; for your brand in the minds of your target customers that according to the price is consistent to your positioning.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xotels.com\/en\/glossary\/price-positioning\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price Positioning Definition \/ Meaning\" \/>\n<meta property=\"og:description\" content=\"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a &quot;position&quot; for your brand in the minds of your target customers that according to the price is consistent to your positioning.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.xotels.com\/en\/glossary\/price-positioning\" \/>\n<meta property=\"og:site_name\" content=\"Xotels\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-13T13:16:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-23T09:21:17+00:00\" \/>\n<meta name=\"author\" content=\"Patrick Landman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@xotels\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick Landman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning\"},\"author\":{\"name\":\"Patrick Landman\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\"},\"headline\":\"Price Positioning\",\"datePublished\":\"2020-04-13T13:16:48+00:00\",\"dateModified\":\"2024-12-23T09:21:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning\"},\"wordCount\":308,\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"articleSection\":[\"Hotel Terminology &amp; Glossary\",\"P\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning\",\"name\":\"Price Positioning Definition \\\/ Meaning\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#website\"},\"datePublished\":\"2020-04-13T13:16:48+00:00\",\"dateModified\":\"2024-12-23T09:21:17+00:00\",\"description\":\"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a \\\"position\\\" for your brand in the minds of your target customers that according to the price is consistent to your positioning.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/price-positioning#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hotel Terminology &amp; Glossary Cat\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary-cat\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"P\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary-cat\\\/p\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Price Positioning\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/\",\"name\":\"Xotels\",\"description\":\"Xotels - Revenue Management Consulting\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\",\"name\":\"Xotels - Hotel Management Company\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/xotels-hotel-management-company-logoOriginal-compress.webp\",\"contentUrl\":\"https:\\\/\\\/www.xotels.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/xotels-hotel-management-company-logoOriginal-compress.webp\",\"width\":196,\"height\":65,\"caption\":\"Xotels - Hotel Management Company\"},\"image\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\",\"name\":\"Patrick Landman\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"caption\":\"Patrick Landman\"},\"description\":\"As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELS\u00b4 diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.\",\"sameAs\":[\"https:\\\/\\\/www.xotels.com\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/xotels\\\/\",\"https:\\\/\\\/x.com\\\/xotels\"],\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/author\\\/patrick\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Price Positioning Definition \/ Meaning","description":"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a \"position\" for your brand in the minds of your target customers that according to the price is consistent to your positioning.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning","og_locale":"en_US","og_type":"article","og_title":"Price Positioning Definition \/ Meaning","og_description":"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a \"position\" for your brand in the minds of your target customers that according to the price is consistent to your positioning.","og_url":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning","og_site_name":"Xotels","article_published_time":"2020-04-13T13:16:48+00:00","article_modified_time":"2024-12-23T09:21:17+00:00","author":"Patrick Landman","twitter_card":"summary_large_image","twitter_creator":"@xotels","twitter_misc":{"Written by":"Patrick Landman","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":["Article","BlogPosting"],"@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning#article","isPartOf":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning"},"author":{"name":"Patrick Landman","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/person\/f51e882bd553ae1b905fc0214cdca6f5"},"headline":"Price Positioning","datePublished":"2020-04-13T13:16:48+00:00","dateModified":"2024-12-23T09:21:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning"},"wordCount":308,"publisher":{"@id":"https:\/\/www.xotels.com\/en\/#organization"},"articleSection":["Hotel Terminology &amp; Glossary","P"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning","url":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning","name":"Price Positioning Definition \/ Meaning","isPartOf":{"@id":"https:\/\/www.xotels.com\/en\/#website"},"datePublished":"2020-04-13T13:16:48+00:00","dateModified":"2024-12-23T09:21:17+00:00","description":"Definition: The term price positioning, describes the process of adapting your price towards the position you want your products and services to represent in the market. It is a marketing strategy in which you attempt to create a \"position\" for your brand in the minds of your target customers that according to the price is consistent to your positioning.","breadcrumb":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.xotels.com\/en\/glossary\/price-positioning"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.xotels.com\/en\/glossary\/price-positioning#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.xotels.com\/en"},{"@type":"ListItem","position":2,"name":"Hotel Terminology &amp; Glossary Cat","item":"https:\/\/www.xotels.com\/en\/glossary-cat"},{"@type":"ListItem","position":3,"name":"P","item":"https:\/\/www.xotels.com\/en\/glossary-cat\/p"},{"@type":"ListItem","position":4,"name":"Price Positioning"}]},{"@type":"WebSite","@id":"https:\/\/www.xotels.com\/en\/#website","url":"https:\/\/www.xotels.com\/en\/","name":"Xotels","description":"Xotels - Revenue Management Consulting","publisher":{"@id":"https:\/\/www.xotels.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.xotels.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.xotels.com\/en\/#organization","name":"Xotels - Hotel Management Company","url":"https:\/\/www.xotels.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.xotels.com\/wp-content\/uploads\/2022\/05\/xotels-hotel-management-company-logoOriginal-compress.webp","contentUrl":"https:\/\/www.xotels.com\/wp-content\/uploads\/2022\/05\/xotels-hotel-management-company-logoOriginal-compress.webp","width":196,"height":65,"caption":"Xotels - Hotel Management Company"},"image":{"@id":"https:\/\/www.xotels.com\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/person\/f51e882bd553ae1b905fc0214cdca6f5","name":"Patrick Landman","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","caption":"Patrick Landman"},"description":"As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELS\u00b4 diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.","sameAs":["https:\/\/www.xotels.com\/","https:\/\/www.linkedin.com\/in\/xotels\/","https:\/\/x.com\/xotels"],"url":"https:\/\/www.xotels.com\/en\/author\/patrick"}]}},"_links":{"self":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts\/22665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/comments?post=22665"}],"version-history":[{"count":0,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts\/22665\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/media?parent=22665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/categories?post=22665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/tags?post=22665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}