Positioning your product successfully can make the difference between success and failure in the marketplace.
Whether you’re trying to succeed in a crowded market or establish yourself in an entirely new one, having well-crafted sales, marketing tactics, and a positioning strategy is key to achieving success.
Let’s take a look at what a brand positioning map consists of, why these are important to your product, and how you can position yourself flawlessly.
What Are Brand Positioning Strategies?
When it comes to brand positioning in corporate branding, the goal is simple – you want your target consumer’s mind to be associated with the benefits of your company. It’s about making sure they have a positive and distinct image of your brand identity in their mind when they think of your business or product.
Consequently, a successful brand positioning strategy will allow you to maximise customer relevance and competitive uniqueness while simultaneously amplifying the value of your brand.
For optimal brand positioning, companies must strategically identify their target consumer and analyse their main competitors.
In addition, they should highlight the similarities between themselves and their competition as well as articulate what makes them stand out from those same competitive brands.
The 4 Most Common Types of Positioning Strategies
Crafting an effective market positioning strategy necessitates multiple approaches. While there has to be one central route, combining several tactics will help you maximise your market reach and enlighten customers through many channels concerning your brand identity.
The four positioning strategies are:
1. Product Price Positioning
This positioning strategy focuses on aligning your product with a specific price range to establish a competitive advantage in the marketplace. This strategy also concentrates on how consumers view value in terms of pricing and quality.
To target the audience seeking premium-quality products, entrepreneurs may look to craft their positioning statements around a higher price point. This high-end approach is an example of a product pricing positioning strategy that can help reach a target audience in search of premium-quality products. Or, they might decide to position it on the low end of the spectrum to appeal to buyers seeking more affordable options.
2. Unique Value Proposition
This strategy shines a spotlight on the features and advantages of your product, emphasising how it is best suited to meet the precise needs of your customer base. This helps to distinguish your brand in a crowded marketplace and helps consumers see the difference between similar products.
As an example, a company might highlight the fact that their product is the fastest-performing and most durable on the market, setting them apart from similar products at similar price points. Or, they may choose to focus on the simplicity of their product by marketing it as an easy-to-use and intuitive option.
3. Product Quality
Consumers are often aware that they have to pay more for superior product quality, whether the difference in quality is real or the goods are merely ostentatious goods. Of all positioning strategies, this approach has proven especially effective in the luxury sector, where high-grade goods with limited availability and well-known ambassadors shape how customers decide what to buy.
For example, a company may highlight the fact that its product is the most durable on the market in an attempt to establish itself as the go-to choice for customers looking for a long-lasting solution. This goes a long way in influencing consumer perceptions.
4. Competitive Positioning
To stand out from the competition, this positioning strategy involves a direct comparison of your product to that of others to demonstrate its superiority or distinctiveness. For example, if you were trying to position a new item in the car market, you might highlight how its unique features make it stand out from other vehicles on the market.
A case study might focus on the fuel efficiency of this new car compared to other vehicles in its price range, highlighting how its superior design makes it a more cost-effective choice for customers.
How to Create Product Positioning Strategies
With so many brands vying for consumer attention and dollars, effective brand positioning is integral to achieving lasting success in today’s highly competitive marketplace. By strategically identifying your target customer and analysing your main competitors, consumers can be more easily persuaded to buy and continue using your product.
In addition, highlighting the similarities between yourself and your competitors while articulating what makes you stand out is a great way to distinguish your brand from others in the market and reach even more customers.
With these effective marketing strategies in mind, you can communicate what makes your product unique and help it stand out from others in the pool of options.
Positioning Strategy – What You Learned
Product positioning doesn’t have to be a daunting task – with some careful planning and research, your sales team can create an effective marketing strategy that appeals to your target market, differentiates your brand, and helps you achieve long-term success.
