Give a quick introduction to the marketing idea of Basis of Positioning and discuss why it is essential for any company.
Talk about how companies can stand out in crowded markets by knowing the fundamentals of positioning. Additionally, note that the fundamental ideas and methods for successful positioning will be covered in this tutorial.
What is Positioning in Marketing?
Define basis of Positioning and explain its role in creating a unique image or identity for a brand in the minds of consumers. You could use an example, such as how brands like Apple position themselves as innovative and premium, while others focus on affordability or functionality.
Key Elements of Positioning
This section is the core of your blog and should include the following points:
- Target Audience Understanding
Explain why identifying the target audience is a foundational step. Discuss the importance of knowing customer preferences, needs, and pain points to position a brand effectively. - Competitive Analysis
Talk about the role of analyzing competitors’ positions and how brands can use this information to identify gaps and opportunities in the market. - Unique Selling Proposition (USP)
Discuss how a strong USP sets a brand apart and forms the core of its positioning strategy. Share tips on identifying a brand’s unique features or values. - Value Proposition
Explain how a brand’s value proposition clarifies the specific benefits it offers to consumers and how this differs from competitors. Emphasize that the value proposition should resonate with the target audience.
Types of Positioning Strategies
Product-based
Product-based emphasizes particular qualities or features that set a product apart from competitors. This tactic draws attention to the unique features of the product or technology developments that address a specific demand or problem. Brands that employ this strategy frequently highlight unique features, dependability, or innovation.
For instance, Apple markets the iPhone as having cutting-edge technology, unique features, and a high-end feel in order to appeal to consumers who like gadgets with plenty of capabilities.
Price-based
Price-based positioning is the process by which a brand sets itself apart from the competition by providing the best price available, which might be lower to appeal to consumers on a tight budget or higher to communicate superior quality. While high-priced companies highlight exclusivity, luxury, or greater quality, low-cost positioning brands emphasize affordability and value for money.
For instance, premium businesses such as Rolex use high costs to portray their items as rare and prestigious, whereas Walmart positions itself as a low-cost retailer, making it the preferred option for buying on a budget.
Quality-based
Quality-based positioning draws attention to how excellent a brand’s goods and services are. Customers that prioritize excellent performance, workmanship, or longevity over cost will find this tactic appealing. Consistent branding centered on dependability, trust, and better materials or processes is frequently a component of quality-based.
For instance, BMW markets its automobiles as premium, expertly designed automobiles in an effort to draw in clients who value performance and workmanship when driving.
Usage-based
Usage-based targets the specific ways or situations in which a product or service is intended to be used. By focusing on the use case or context, brands can connect directly with customers who need a solution for a particular scenario, such as convenience, travel, work, or recreation.
Example: Gatorade positions itself as a sports drink designed for athletes and active individuals needing hydration during exercise, making it the preferred choice for fitness enthusiasts.
Benefit-based
Benefit-based positioning emphasizes the main advantages or outcomes that customers can anticipate from utilizing the good or service. This method concentrates on the value that is provided to the customer, whether that value is comfort, productivity, health, or time savings.
Sensodyne, for instance, markets itself as toothpaste for sensitive teeth and highlights its ability to relieve pain, making it the perfect choice for people who find ordinary toothpaste uncomfortable.
Steps to Establish a Strong Positioning Strategy
Provide a step-by-step guide to building a positioning strategy, such as:
- Conduct market research
- Identify and analyze competitors
- Define the target audience
- Develop a clear positioning statement
- Consistently communicate positioning through marketing and brand messaging