Market Positioning in the Digital Space
We are the characters in the stories we tell.
So,You know, tales are what holds us all together.
Have you ever wondered why?
Perhaps our memories and relationships are left by storytelling.
But, most significantly, tales enrich our lives and identities.
It is what distinguishes us.
Great tales have the power to boost businesses as well.
It is, after all, what distinguishes business concepts.
The business’s distinctiveness is what allows it to claim a unique position.
Interestingly, there is a concept known as ‘Positioning’ in marketing.
Ted Bats and Trout developed the term “positioning” in 1980 to better comprehend and deal with Japanese marketing rivalry.
What is the point of all of this?
Why does Positioning Matter?
People typically buy your goods because of who you are and how you offer value to your consumers.
Your placement is determined by how your consumers view you.
Fundamentally, positioning is the company’s impression in the mind of the client
Making your consumers aware of your distinctiveness allows you to emphasize your positioning.
Remember that if your consumers understand you, they will refer more business to you.
So,Here are a few things to think about to help you get started.
Recognize what your consumer is looking for.
Make an effort to carve out a niche for yourself.
A specialty allows you to narrow your emphasis and, as a result, increase the quality of your product.
Analyzing marketing segmentation might assist you in locating a certain target demographic.
So,Having a statement will assist you in navigating all of these obligations.
The Positioning Statement
So,A positioning statement for your marketing sector will help you capture your clients’ attention.
The following elements must be included in a positioning statement:
- How your offering fulfills your clients’ needs.
- From the customer’s point of view, how do you differ from the rest of your competitors?
- Why your consumers must have faith in you.
A positioning statement assists you in developing successful tactics for differentiating
your company from the competition.
So, let’s have a look at some alternative techniques.
Basic Positioning Strategies
Positioning is more than just a marketing technique.
Your positioning initiatives must compliment your company, marketing, and sales strategies.
Here are some simple techniques:
1.Positioning based on the Nature or the value of the product
Talk about the essence of your brand to appeal to your customers.
This addresses your brand’s basic value.
Let’s look at an example to help you understand.
Which phone would you select if you had to choose between an iPhone and another brand’s phone?
We want to get an iPhone the instant we see one!!
Simply said, everyone likes it, therefore you want to purchase it, don’t you?
Although this appears to be the case, there is a deeper phenomenon at work here.
If you read Walter Isaacson’s biography of Steve Jobs, you would see that Jobs was always eager to disrupt the existing quo.
Jobs had a different viewpoint.
That is why the tagline “Think Differently” was created.
If you look closely, you will notice that we drawn to the majority of Apple products.
2 Positioning based on the Cost
So,After such a high-value feast, let’s look at something more straightforward.
You’ve probably guessed by now.
This technique simply allows you to assert your presence via pricing.
So,Who can ever forget the year 2016?
JIO was born that year.
Remember those deals with unlimited internet and phone calls?
Yes, JIO just adopted this technique to assert its market position.
JIO just had the finest and cheapest deal.
In reality, it had a long-term influence on the telecommunications sector.
Conclusion
Whoof!!
That’s a lot, isn’t it?
If this resonates with you, you may always contact a digital marketing firm like us.
We will guide you through all aspects of digital marketing and digital presence.
You may contact us since we are the top digital marketing agency in Bangalore.