Positioning in marketing is a concept that outlines what businesses should do to market their product or service to their customers. Positioning creates an image for the product or service based on the audience. The better your positioning strategy, the more effective your marketing strategy is for your business. This elevates your marketing efforts and helps a consumer move from knowing about the product or service to actually purchasing.
Here are a few examples on positioning!
First, target demographics. Products and services are meant to appeal to a specific group of people. You need to know who you want to appeal to. Ask yourself questions like ‘What is the age of consumers that my product would attract the most?’ or ‘Where are most of my consumers located?’.
Second comes having a low-price strategy. Pricing is a big deal to a lot of consumers. It is a consideration factor that if it’s too much, consumers wouldn’t purchase. You need to ensure that people can afford your product or service based on your target market. If you can convince your consumers that your product or service is value for their money, then you’re on the right track!
Third, high-price strategy. Most of the time, consumers perceive a higher priced item as one with a better quality and worth the price. However, in order for this to work, your company needs to advertise your brand, product or service in a way that shows consumers that you are superior to your competitors. Ask yourself, what makes you different?
Next, distribution. Some companies choose to limit the production of their product in order to create a perception that it is of better value, hence it is not easily accessible. In this case, the product is only available at a few shops and are usually priced higher.
Lastly, competitive comparisons. Marketers need to know how to best market their products, regardless of their competitors. You will need to show your customers why they should buy from you instead of another company. Here at Chamrun Digital, we will guide you in positioning and ensure that your consumers see the benefits of your product or service.