Product positioning is a vital component of any business’ marketing plan. This term is the process that marketers use in order to decide how to best convey their products’ attributes to their target audience based on customer requirements, competitive pressures, available communication channels in addition to carefully crafted key messages. Effective product positioning ensures that marketing messages resonate with target consumers and compel them to act.
What Are Product Positioning Strategies?
The aim of product positioning is to ensure that your product is kept at the top of your customers’ mind when they’re contemplating a purchase. In order to achieve success, three objectives must be accomplished:
- Distinguish your product from the competition’s
- Address essential customer buying criteria
- Clearly articulate key product (or company) characteristics
Product positioning is a key ingredient in the buying process. This means that it should never be left to chance. It’s an opportunity for you to have an impact on the market’s understanding of your products. Failure to address product positioning proactively is unlikely to end well.
With or without your feedback, customers will place your product—possibly based on information from your competitors, which will not put you in a good light. Clear, concise, as well as meaningful product positioning, also assist you to cut through the relentless advertising in addition to the marketing noise of the marketplace. In your customer’s mind, product positioning provides your messages with some context so they can be better heard and accepted. Marketing messages – in addition to positioning – have a lot in common.