Article · business

Decide your Business Positioning

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30 ‘Condiments’ of Business Success
(Administrative concerns)
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Condiment 9: Decide your Business Positioning
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Business Positioning is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer. Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. Once a brand is strongly positioned, it is very difficult to reposition it.

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Business Positioning is one of the most powerful marketing concepts. Primarily, it is about “the place a brand occupies in the mind of its target audience”.
It has also been called product positioning, but that is a limiting description because it focuses on the product itself, while the positioning marketing technique focuses on the minds of the consumers.

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Before you position your product or service, you should answer the following strategic questions about your market and your products or services:
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1. What’s your customer really buying from you?
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2. How’s your product or service different from those of your competitors?
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3. What makes your product or service unique?

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Once you’ve answered these strategic questions based on your market research, you can then begin to develop a positioning strategy for your business plan. A positioning statement for a business plan doesn’t have to be long or elaborate, but it does need to point out who your target market is, how you’ll reach them, what they’re really buying from you, who your competitors are, and what your USP (unique selling proposition) is.

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Remember, the right image packs a powerful marketing punch. To make it work for you, follow these steps:
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1. Create a positioning statement for your company. In one or two sentences, describe what distinguishes you from your competition.
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2. Test your positioning statement. Does it appeal to your target audience? Refine it until it speaks directly to their wants and needs.
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3. Use the positioning statement in every written communication to customers.
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4. Create image-marketing materials that communicate your positioning. Don’t skimp.
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5. Include your team in the image-marketing plan. Help employees understand how to communicate your positioning to customers.

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Reference: https://www.entrepreneur.com/encyclopedia/positioning
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https://www.slideshare.net/mobile/QuantumDig/qd-slideshare-positioningdeckfnl

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