Positioning is one of the crucial components of marketing, both for B2C and B2B. Positioning is a brand's novel method of offering some value to its buyers. Where does a brand sit in the minds and hearts of buyers? These connections that buyers endure with a brand mirror their positioning.
Companies leverage positioning to make a picture of a brand's product/service in the brain of an objective buyer. Positioning characterises how the brand's contribution is extraordinary, how it gives a unique advantage to these buyers.
Companies use marketing to impart their market position to buyers and impact their view of the brand's products/services. Marketing builds up the brand character, affecting customer impression of its situation in the market compared with the options accessible from contenders.
Take Mercedes for example, the positioning of this brand in the minds of people is that it sells high-quality luxury and expensive cars or we all know Starbucks has always promoted hygienic and upscale beverages with environmental safety in mind.
There are various reasons why you ought to think about making positioning the main element of your marketing system. With the right positioning strategy, you can make better marketing messages, shape your product/services better, and derive pricing models in order to remain ahead.
Step 1: Check your present position
Your present situation in the market gives you the fundamental knowledge of where to go after that. Contemplate the following inquiries to see your present situation on the market:
Examine your opposition by performing a competitive analysis since you need to see who you are facing. It will assist you with choosing what you can improve to acquire an edge. There are numerous strategies for checking your opposition, including:
Now that you know what your rivals are doing, you have to sit with your team and decide what differentiates you from others and what is the USP of your brand that you want your target audience to associate with.
When you’ll do a competitive analysis, list down their strengths and weak points and compare them with your brand. Use their weak points as your strength and try not to make the same mistake as they did.
The next important thing to complete is to think of a positioning statement that tells your brand’s USP to the target audience as compared to other brands.
For example: Have you heard about Amazon’s vision? They say, “Our vision is to be the earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online”
Don’t put your positioning strategies at risk, when it is made, you must invest energy in the trial, testing, and collecting feedback from your buyers on whether your positioning accomplishes its objective.
Testings should contain quantitative and qualitative research, from polls and surveys to different interviews. After the tests' discoveries, you can, at last, enhance your positioning in the market and change your marketing campaigns.
Market positioning is no simple feat; it requires time, commitment, and surprisingly the fortitude to say "no" to certain ideas. Although, it's necessary, particularly when you're striving to make continuous income streams, acquire new buyers, and hold your present ones.
If you require any guidance with the market positioning strategy, just reach out to us and let our specialists handle it.
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