Product positioning is how a company positions its products in a field and advertises these products to the public. Positioning essentially refers to the place/position a product or brand occupies in the mind of consumers.
Positioning is improved through deliberate actions of the brand. To take advantage, you need to understand the place of product positioning in marketing mix.
Product positioning is a key part of product strategy. It involves more than simply describing the features and benefits of a product. Product positioning can be done on a product level, wholesale/retail level, customer, or market level.
The Important Parts of an Effective Product Positioning Strategy
Creating a space in the mind of consumers and shaping how consumers view a brand doesn’t happen by coincidence. It requires deliberate and purposeful action.
Businesses need to conduct background research and understand the market if they want to succeed. There are three important parts to strategic positioning. These are jointly referred to as the three “C’s.”
Like any other marketing activity, the customers are crucial parts of the plan. Businesses need to research and identify the wants and needs of customers.
You can use surveys, reviews, and interviews to provide clarity and enough data to work with. Brands that listen to buyers’ needs and place a premium on those needs often have many loyal customers.
Your organization’s channel or sales team is critical to understanding customer needs. This is where you will find most of the information needed for successful positioning. The channel connects to the customer directly.
They can offer insight into how customers are doing, their problems and worries, and how their businesses perform. With the experience of the sales cycle, channels can provide the necessary information to focus positioning strategy primarily on what you do well.
Analyzing the competition and their position is the last part of creating an effective positioning strategy. If your position is unique and sufficiently differs from other products out there, then your positioning is effective.
Product positioning is all about understanding who you’re targeting and what you need to do to make them want to buy your product.
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