Positioning helps establish your product’s or service’s identitywithin the eyes of the purchaser. A company’s positioning strategyis affected by a number of variables related to customers’motivations and requirements, as well as by its competitors’actions.
Before you position your product or service, you should answerthe following strategic questions about your market and yourproducts or services:
- What’s your customer really buying fromyou? Remember that McDonald’s isn’t just selling burgers andfries. It sells fast food that tastes the same, no matter when orwhere it’s ordered, in an environment that’s clean and friendly tofamilies.
- How’s your product or service different fromthose of your competitors? A cheeseburger is a cheeseburger,you may think. But look how McDonald’s, Burger King and Wendy’sdifferentiate their fast food. They offer different side dishes(onion rings at Burger King, french-fried potatoes at McDonald’s),different toys with kids’ meals (a big incentive for theunder-age-10 set), and different ways of cooking their burgers(Burger King’s are broiled, McDonald’s, grilled).
- What makes your product or service unique?In New England, McDonald’s is the only fast-food chain to offerlobster rolls (a lobster salad sandwich served in a grilled hot-dogroll) in the summer.
Once you’ve answered these strategic questions based on yourmarket research, you can then begin to develop a positioningstrategy for your business plan. A positioning statement for abusiness plan doesn’t have to be long or elaborate, but it doesneed to point out who your target market is, how you’ll reach them,what they’re really buying from you, who your competitors are, andwhat your USP (unique selling proposition) is.
Remember, the right image packs a powerful marketing punch. Tomake it work for you, follow these steps:
- Create a positioning statement for your company. In oneor two sentences, describe what distinguishes you from yourcompetition.
- Test your positioning statement. Does it appeal to yourtarget audience? Refine it until it speaks directly to their wantsand needs.
- Use the positioning statement in every writtencommunication to customers.
- Create image-marketing materials that communicate yourpositioning. Don’t skimp.
- Include your team in the image-marketing plan. Helpemployees understand how to communicate your positioning tocustomers.
