The positioning of your product is vital and is an integral part of your marketing communications plan.
It’s not the physical nature of your product that is important for positioning but how your product is perceived (effectively what your buyers can relate to). The following are 3 common strategies that you can use to develop a position in the mind of your buyer.
PRICE / QUALITY – a simple and effective strategy as price itself can be a strong communicator of quality.
PRODUCT FEATURES / BENEFITS – a straightforward strategy that focuses upon those attributes and benefits that your product has relative to the competition e.g. Volvos are safe.
USE – informing markets of when or how your product can be used helps create a position in the mind of your buyer e.g. Wash & Go shampoo positions itself as a quick and easy product for those with busy lives.
Remember that the dynamic perspective of markets means that the relative position of products will be challenged and may shift – meaning that you may need to reposition your product in the minds of your buyer.