There are three standard types of product positioning strategies brands should consider: comparative, differentiation , and segmentation. Through these strategies, brands can help their product stand out by targeting the right audiences with the best message.
Market positioning refers to the process of establishing the image or identity of a brand or product so that consumers perceive it in a certain way. For example , a car maker may position itself as a luxury status symbol. Whereas a battery maker may position its batteries as the most reliable and long-lasting.
Usually, with pricing positioning strategy , a brand aims to be the cheapest or one of the cheapest in the market, and value becomes their position. For example , Supermarket chains often have a house brand with very low-price products in many product categories.
An effective positioning strategy considers the strengths and weaknesses of the organization, the needs of the customers and market and the position of competitors. The purpose of a positioning strategy is that it allows a company to spotlight specific areas where they can outshine and beat their competition .
A positioning statement is a concise description of your target market as well as a compelling picture of how you want that market to perceive your brand. It helps you maintain focus on your brand and its value proposition while you work on market strategy and tactics.
The three activities of a successful targeting strategy that allows you to accomplish this are segmentation , targeting and positioning , typically referred to as STP.
In other words: positioning a brand is occupying a differentiated position at the head of a specific market segment; if the company does not offer something different, consumers see no reason not to opt for competition. One of the most remembered examples of brand positioning is that of Pepsi refrigerant.
Definition : Positioning defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer. Description: A good positioning makes a product unique and makes the users consider using it as a distinct benefit to them.
7-Step Brand Positioning Strategy Process Determine how your brand is currently positioning itself. Identify your direct competitors. Understand how each competitor is positioning their brand . Compare your positioning to your competitors to identify your uniqueness. Develop a distinct and value-based positioning idea.
Coca – Cola Positioning Statement : Unlike other beverage options, Coca – Cola products inspire happiness and make a positive difference in customers’ lives, and the brand is intensely focused on the needs of consumers and customers.
Types of positioning in marketing Pricing. Pricing is an essential factor that impacts the decisions of most customers. Quality. Quality can help rebuff most pricing wars. Differentiation. Convenience. Customer service. User group. Create a strong competitive position. Improve sales.
The major positioning categories include: positioning by product attribute (product feature and/or benefit), positioning by user, positioning by product class, positioning versus competition, positioning by use/application, and. positioning by quality or value.
What is Market Positioning? Market position refers to the process of establishing the image or identity of a brand so that customers perceive it a certain way. This is created through the use of the 4 Ps: promotion, price, place and product. The best way to do this is through a positioning strategy.
Apple in general is positioned as a premium product. Apple products are generally priced higher than competition. This position has helped Apple a lot as it avoids getting into price war. Instead of competing on price, Apple can now compete on innovation and unique value propositions.
How to Choose the Best Positioning Strategies ? Analyze your target audience and your main consumers. Identify what is most interesting to them and what their profile is. Study your current situation. Analyze your main competitors. Identify your competitive advantages. Define your value proposition.