Be different and your uniqueness will market itself.
Wikipedia explains that in marketing, positioning has come to mean the process by which a business owner creates an image or identity in the minds of their target market for its product, brand, or organization. Re-positioning involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market. De-positioninginvolves attempting to change the identity of competing products, relative to the identity of your own product, in the collective minds of the target market.
So how are you positioning your product or brand? What ways can you make your business stand out? Here are what I feel to be the top 10 positioning strategies for your business.
1) Highest Quality – Your business/product/brand represent the very best on the market with respect to quality.
2) Least Expensive – Your business/product/brand are the most affordable on the market.
3) Best Value – Your product attributes, pricing and convenience of purchase add up to the best value for the money on the market.
4) Design or Style Leadership – Your product/brand represent the newest and most advanced in design and style on the market – you are the leader in innovation.
5) Most Prestigious – Your product/brand are presented to appeal to the ego, to the “only best will do” customer.
6) Performance Leader – There are a number of ways to positions your product/brand as the performance leader. These include: Best Performance – usually based on external perception. Most Durable – hold up the longest. Most Reliable – breaks down the least. Easiest to Work With – most flexible and consistent.
7) Most Convenient – You are everywhere and available in the most desired locations.
8) Fastest/Speed – You get it there first, and are there when needed.
9) Safest – Your product/service/brand is the leader in safety.
10) Simplicity – Your product/services are the easiest to use.
1) Product – Characteristics of your product or service. Does it meet the needs of your customers and provide them with satisfactory results. The Product Strategy includes how your products will be positioned against the competition in the product market.
2) Price – What does it cost, and how much are the customers willing to pay. Deciding a Pricing Strategy, and providing results are crucial. Create “Attractive Prices”. The pricing strategy should emphasize the value and uniqueness of your merchandise.
3) Place – Available in the right place, at the right time, and in the right quantities. Positioning Strategy is used to also communicate the desired positioning of a service in the target market. Positional Effectiveness is how well the management’s positioning objectives are being achieved in the target market. If your product/service is not where your costumers are, you will lose money.
4) Promotion – Product Promotional Strategy uses an effective combination of advertising, sales promotion, personal selling, and public relations/internet marketing/social media to communicate with customers. Always convey a business culture of a “customer driven company”.
Choosing the right market target strategy can affect the performance of the whole business. The targeting decision is critical to guiding the positioning of a brand or business in the marketplace. Sometime a single target cannot be selected because the business competes in several market segments. Locating a business’s best matches between it’s capabilities and a market segment’s value, may first require a detailed analysis of several segments. Targeting decisions establish key guidelines for business and marketing strategies. Overall the 4 P’s of Marketing provide us with a simple marketing structure of product creation, price, placement and distribution.