The definition of market positioning consists of clarifying in which position the product or service of a compared to others that provide the market with similar items. A correct market positioning ensures that an article is considered unique, helping the user to use it when obtaining a specific benefit.
A correct market positioning allows an article or brand to stand out from the rest, especially in areas where there are many similar products that offer similar characteristics. It also allows you to trade at a higher price and get away from the competition in terms of results.
Another aspect to take into account of the concept of market positioning is that it makes it easier for a company or an article to overcome bad sales times. It also provides greater flexibility in terms of modifications, extensions, advertising and distribution.
Steps for a correct market positioning
Among the steps to take in the process of positioning in the market are the following:
- Market segmentation.
- Analysis of each segment.
- Select one or more segments that could become the target.
- Identify the different positioning options for the market segments chosen.
- Choose and develop a positioning concept.
Before starting the positioning of a service or product you have to answer a series of questions. Among them, what is the customer buying from you, what is it that differentiates your item from the competition and why your product is unique. Therefore, you must indicate the target market, how you will reach it, what they are buying from you and what your sales proposal is. One of the best ways to know the answer to all of these questions is by organizing a focus group.
Market positioning strategies can be developed in different ways. They can be derived from the attributes of the object, the class of customers it satisfies, the characteristics of the type of products and the competition.
Positioning strategies