Imagine yourself looking at your sales reports for the month. On its own, your sales figures look fine. But when you compare it with your sales and marketing expenses, it’s a little below where you expect it to be. You begin to wonder what you are not doing right.
What could be the reasons why your revenues don’t seem cooperative with your marketing efforts? Do you know who your customers are? Chances are you have already identified who they are and more so, you know them very well such that you have just the right products to satisfy their specific needs. How come, then, are you having such a difficult time pulling your sales up?
As promised, this post is going to be about positioning.
Knowing your customers is not enough. You have to decide how you want to position yourself in your chosen niche or market segment. This is what positioning is all about – it refers to “how organizations want their consumers to see their product.” You have to decide how you want your market to perceive your product or service. For example, Head and Shoulders position itself as the No. 1 anti-dandruff shampoo. Another example is Avis which positions itself as No. 2 in the rent-a-car services and appropriately carries the tagline, “We try harder.” This tagline turned out to be a very effective one for them.
When you formulate your positioning strategy, it is very important to remember that how the market will perceive your product or service will largely depend on how your competitors position themselves, too.
So what positioning strategies are available?
One strategy would be a “me-too” strategy. This happens when you position your business close to your rivals. One advantage this strategy brings is that it allows your consumers to easily compare your product with those of your competitors when they buy.
Another strategy would be to position your business “away-from-competitors.” This strategy may involve presenting a benefit or feature that is more superior in certain aspects. This move would certainly have to consider the other elements of the business’ marketing strategy – pricing, promotion, and distribution. All of these elements must echo the superiority of the benefit or feature.
According to marketing gurus, “Ultimately positioning is about how you want consumers to perceive your products and services and what strategies you would adopt to reach this perceptual goal.”
Indeed, there are so many business strategies that can help you so you can grow your business. But how would you know if you have chosen the right one for your business?
Some of Malaysia’s noteworthy entrepreneurs will come together to reveal the X-factor that boosted their business success in the first ever Thinking. Doing. Growing. Business and Marketing Conference on the 5th of May 2012 at the Berjaya Times Square Hotel, Kuala Lumpur. This is the time you can compare notes from those who are sure to be doing it right and learn how to apply their strategies to your own enterprise.
Hurry! There are only very limited seats available to date. Reserve yours now!
