Product positioning, in its simplest form, is why a product or service is a good fit for the market, unique features, and better than competing products.
We take into account the needs and wishes of our target market and aim to meet them. What sets your business apart from all the rest is your marketing strategy.
Looking at the psychological aspect here, product positioning is also a campaign that touches the hearts of target customers. You want them to know your brand as unique, positive and desirable.
Before deciding on a position in the market, it is important for product managers to determine the market segment they want to reach.
This market segment must be profitable with its own niche in a market that offers opportunities due to lack of competition or a large number of customers already willing to buy products within this segment.
Product managers need to make their brand as attractive as possible based on the group of customers they want to target their brand decision.
The maturity of the market plays a large role in determining the message of the product.
In a relatively new market, you must first set up the problem before talking about the product you offer. In traditional markets, simply saying you belong to a particular market is sufficient, but you need to convince people why you exist. It's not a feature, it's an advantage. For companies in highly competitive markets such as CRM, product features and benefits are usually consistent with competing offerings.
When people switch from your current tool to yours, they are usually dissatisfied with the way you work (push) or are drawn to what you have to offer (pull). Before people switch, you need to address their worries (anxiety), make them trust you, and avoid going through tedious processes like learning a new flow of change (habits).
For most products, it's usually a push-and-pull combination that makes people consider a product. And once it's established, their anxiety level and a combination of habits will determine whether or not they will switch.
Product positioning is about how a product is perceived in relation to its direct competitors. Therefore, it is important to understand your competitors well.
Obviously, you want to build a deep understanding of your competitors, their strengths and weaknesses, and their differentiation. Equally important is to analyze your competitors' strategies and how they are positioning your market.
Building a holistic picture of your competitive landscape can help you identify where your market is saturated or underserved.
Advertising is usually the highest position in a company. Therefore, it is important to clearly communicate your unique value proposition. First, you need to determine your target market so that we can provide solutions to our customers' problems. When announcing your service, your unique value statement should be clear. Consider supporting this with customer testimonials and best practices. In the meantime, point out why you are different from your competitors and why you should be their first choice.
After you create your ranking description, you should take the time to test it and gather feedback from your customers. The test should include a mix of qualitative and quantitative surveys consisting of interviews, surveys, and individual surveys. Based on these test results, you can ultimately establish your company's positioning strategy and improve it over time.
There is no single goal for customers looking for new products. Your brand needs to be clearly visible and connect with your audience. This requires businesses to do more than simply declare features and benefits. By focusing on your market and its maturity, you can create compelling stories, focus on your customers, and differentiate yourself.