What is positioning in marketing? It is the process of positioning a brand in the market so that it becomes synonymous with the category it belongs to. Xerox, Kleenex, and Scotch tape are examples of brands that have become synonymous with their product category. These brands are usually the leaders in sales and profit because they are the first to advertise aggressively. These brands are also called frame of reference. However, there is a catch. It requires a large amount of data and an objective interpretation of what customers want.
A product or service that has a good position in the market is perceived as desirable by customers. By influencing this perception, the product or service will have a lasting market advantage. Proper positioning will keep businesses ahead of the competition and attract new customers and clients. Ultimately, positioning will help businesses improve their sales, build their brand image, and penetrate new markets. This will lead to increased revenue and more satisfied customers. However, positioning isn’t a simple process. It requires a great deal of time and dedication.
As the definition of positioning suggests, it involves creating a specific place in the mind of the consumer. This place in the mind is called a hypothetical coordinate, and this position is related to the product’s perceived value. To create a unique perception of a product, marketers often use a Perception Map, which is a graphic representation of a prospective customer’s evaluation of benefits versus costs. Once the marketer has a clear perception of what they want, they can then create a unique marketing message to help the brand become a success.
When positioning your brand, you need to be focused on a specific niche, idea, or target audience. You can’t be everything to everyone, so positioning is critical. Try to be all things to all people, and your marketing strategy will not be effective. Using a positioning strategy will help you establish a brand image that separates your company from the rest. For instance, a brand that has established a strong position is difficult to change.
Often, companies spend too much money on a unique point of differentiation, which is easily copied by competitors. In order to create a brand position that is unique, companies need to create a product that differentiates them from competitors. A good example of this is Tesla. Tesla entered the electric car market as a luxury sports car, but quickly positioned itself in a higher-end market with its Model S. The same is true for many other companies.
Ideally, a brand’s positioning should be unique within its product category. In other words, two brands cannot own the same concept in the minds of consumers. A good positioning strategy should be simple and tailor-made for the market. It should start with a simple, customer-focused value proposition. While it may seem difficult, it is vital to communicate the value of a product or service to customers. Effective positioning in marketing will create a clear picture of the brand that consumers can understand and remember.