A product positioning strategy is a deliberate branding plan or process which operates on the symbolic levels of consumer consciousness. Here meanings as well as associations – even of single words – really hold weight.
A market positioning strategy is based on business data and aims to compose the precise chain of words in order to balance concepts of differentiation, distinction as well as similarity in a unified brand-narrative.
It is a long-term effort which aims at solidifying the identity of a company, as well as its products or services, in a unique space within the minds of the target audience. It is an organised effort for a brand to set itself apart from the crowd and control the way in which their target audience perceives them.
What Are The Steps to an Effective Positioning Strategy?
The process of developing an effective positioning strategy is best broken down into its steps in order to keep the concept as simple as possible. However, do not make the assumption that knowing the steps makes drawing up the strategy easy. It takes a good deal of clarity and belief to be able to follow through.
Knowing the steps ought to help with the clarity part however conviction is something that must be established internally if it doesn’t already exist. It’s quite important for marketers to muster the conviction of the organisation as following the process through to the end produces degrees of certainty moving forward which can’t be substituted any other way.
Plenty of organisations out there get by without much conviction as well as without a dedicated market positioning strategy. However, without some degree of confidence and conviction, most businesses will ultimately default to the status quo when the waters get choppy. It’s only a matter of time. But those who are able to follow the process through to the end will find that every action which follows becomes an expression of the market positioning strategy.
Determine Company Uniqueness By Comparing To Competitors
Compare and contrast differences between your organisation and competitors in order to identify opportunities. Focus on your strengths and how you can exploit these opportunities.
Identify Current Market Position
Pinpoint your existing market position in addition to how the new positioning will be beneficial in setting you apart from your competitors.
Competitor Positioning Analysis
Identify the conditions of the marketplace in addition to the amount of influence each competitor can have on each other.
Develop A Positioning Strategy
Through the preceding steps, you should have achieve an understanding of what your business is, how your organisation is different from competitors, the conditions of the marketplace, opportunities in the marketplace, and how your company can position itself.
Positioning your company in the market is a cornerstone of effective digital marketing.
If you would like to learn more about how to market your business effectively you need to do our Digital Marketing Course. For more information, please follow this link.
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