Market positioning is the customer’s expectation of the brand, product or service in specific market segmentation. It is basically the differentiation that business is offering – different or unique from its competitors. So by market positioning, the marketers try to create the brand image in the mind of their segmented market. Market positioning is done to influence the consumer’s perception about the brand as compared to the other competing brands. In marketing positioning a specific niche is set for the marketing, than all the marketing mix strategies are headed toward providing the product or service to the customers according to their expectations.
It is always right that you can influence the customer perception and you can turn your own prospects into their thoughts. This will largely depend on the strategy you follow to make the market position and other marketing mix together. The purpose of market positioning is to make clear, unique and bright image of the brand and product in the minds of customers.
Before setting the market position, you should know what you are going to sell to your customer. There are some very important questions to be answered before defining your market positioning. These are:
What is the exact market segmentation that you want to cover?
What value do you want to offer to the segmented market?
What are the core benefits of the product you are offering?
Why is the value and care important from the customer’s point of view?
What is unique quality of your product which can give you sustainable competitive advantage over the other market competitors?
Based on all the above questions the market positioned is set and maintained in the minds of customers. The strategies are followed in such a way to deliver the best to the customers to meet their expectations. Actually the customers always have some ideas, characteristics and attributes in their mind regarding any product. So the position of the product and than position of market is set on these attributes. Meeting those attributes and qualities is essential to have position in the market. Using your strengths and covering your weakness can have great influence on the market positioning. It is said that “Positioning is the battle of mind”. So if the minds are captured by right market offerings in the specific niche, market positioning can be determined easily. So for making the market positioning, good marketing mix efforts are needed.
Specifically if you talk about small business organization, it is not easy to have a very strong market positioning. But nothing is impossible in this world, as marketing can do everything. You might want to invest in quality product creation and you also want to have a specific unique characteristic that may not be easily beatable by any of your competitor. Positioning with marketing is a strong combination for any business. Small business enterprise is established easily and personal credibility is strength of this business. So in small business, market your product with structured market positioning strategy. It will enable your company to build brand loyalty under right prices.
Marketing Positioning is advanced branding strategy and trying to do it yourself is one of the 7 Deadly Branding Mistakes. If you want to position your small business brand strong, we highly recommend working with a professional branding agency or brand strategist. We’ll be glad to help you if you are looking to position your business so that your prospects and clients understand your message and keep buying from you. Learn how we can work together or send us a message to request more information.