What do you mean by Product Positioning in marketing? All Marketing Consultants and Experts of the world have one answer – Positioning means ‘What the product does and for whom it matters?” or alternate question that you can think; What is the motivation for the target audience to buy your product – the why?
Why should your target audience be interested in your product? Why is your solution the best for your target audience? So here again…
So Positioning means “What the product does – for Whom – and Why”
Marketing consultants and product managers should know how to position the products and services in the competitive landscape.
Innovation is a must, and differentiation is a must for any product manufacturer. However, even if your product is almost similar to your competition, still if you can positioning it well, you may not be directly competing with the competitive clutter. Positioning is the most effective marketing tool on this planet. If you want to move your business forward, work steadily on your Positioning:
What do I offer?
Who is my favourite customer?
Why does my customer want my product?
Why my customer is buying only from me and not choosing my next competitor?
So you grab a permanent place in the minds and hearts of your customers. That’s the position you did, getting into their mind space.
Once you get into their minds, by precise Positioning, you have the advantages for brand recall for a while. Positioning is the most important lesson for all business owners, entrepreneurs and start-ups. Before we start with a logo, company name, and your website, we should think about the Positioning of your product, service and company. It is brand positioning that can work long last with loyal customers. It is more at the customer’s end. It indicates which ambitious goal the brand should conquer in your customer’s mind.
How Does Brand Positioning Works?
Brand positioning is the outcome of the credibility developed out of the brand at the customer’s end. It is the task of brand managers and corporate management that brand positioning succeeds. On the one hand, it must ensure that the brand promise, brand delivery and brand experience is managed, without contradiction. On the other hand, they have to align their entire corporate activity with it uncompromisingly, only then can it succeed.
Position Yourself Correctly in the Market Using Our Tool
The tool Positioning quadrant is especially relevant for the business plan and brand strategy. With the help of the position tool, you can visualize the Positioning of your offer in the competition in the shortest possible time. The product positioning tools also creates a positioning cross.
Create Product Positioning Quadrant
Positioning in the market is a particular marketing challenge for entrepreneurs. You must define the customer value of your offer and thus determine your position in the competition. Product positioning plays a decisive role in this, because only with the right Positioning can you have long-term success in the market with your start-up.
In product positioning, price, place and performance are common categories for positioning in the market and comparison to the competition. With your product positioning, the coordinate system makes it relatively easy for you to see where you are compared to your competitors. Choose the right competitors. Always identify competitors. They must be your close competitors and not the one with a significant market share or a pioneer in the field. Find out the niche space, and differentiate you from the competitor. The product positioning thinking will help you to do this. You can see if your product positioning is more of an advantage or disadvantage compared to competitors – or if you are moving in the market average. From this, you can then make the right decisions for your marketing and start growing your business with brand recalls and credibility.
Do you want to revisit your product positioning? Do you need external support? Contact me Raj Mohan, Marketing Consultant. contact@addkraft.com