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Placement is concerned with how and where your product will be positioned in the marketplace. As an example, Microsoft Office® is popular software used by individuals and corporations. Twenty years ago, one could purchase this product at any office supply store (Office Max, Staples, online, etc.) and many of the major retailers such as BestBuy, Sam’s, and Costco. The product was a CD which downloaded the software onto your computer. Today, this product can be downloaded over the internet directly from Microsoft, BestBuy, Amazon, and other sites. Indeed, CDs have become technically obsolete as even music is now streamed or downloaded.

Another example is product placement in grocery stores. This is as much a science as an art. Grocery stores have significant research on customer buying habits and place products accordingly. For example, impulse buys such as candy, cold drinks, and general interest magazines are located in the checkout lines near the cashier. Wandering along the soft drink aisle, the major drinks are placed primarily at eye level to catch shoppers’ attention. Some companies will pay for key product placement areas in the store. Finally, end-of-aisle displays are another location that customers always notice. Placement is important.

For software or services, how will this “product” be placed on the internet? This is where search engines can be useful. Google, Facebook and others have extensive market research from tracking internet users. This is how they make their money: selling market research, commonly known as data analytics. They can provide data on how many people visit key websites, perform searches for products, and can segment this data for companies willing to pay for it. When placing your product or service on the web, they can also help your firm target your demographic or geographic preferences.

Placement is key to getting your potential customers to notice your new product, whether a hard product of software based. The internet can help your new product get “placed” and increase your chances of success, assuming your product has appeal (demand).