| Author |
Title/Content |
Knowledge
Level |
Provided
By |
| Jan Welborn-Nichols |
Market
Positioning
|
Basic |
 |
Market Positioning
by Jan Welborn-Nichols
An article provided by Jan Welborn-Nichols, 734-429-2267, Market
Arts, Ann Arbor, MI, a provider of marketing services for aspiring
entrepreneurs and small business owners.
Falling in love! As entrepreneurs, we do it every
day. Our passionate belief in, and commitment to, our product
(or service) makes all things seem possible. The most successful
entrepreneurs learn to transform their passion into position.
Positioning is a perceptual location. It's where
your product or service fits into the marketplace. Effective positioning
puts you first in line in the minds of potential customers.
As individuals, we continually position ourselves.
The responsible older sibling, the class clown, a number cruncher,
a super genius are all examples of positioning. These identifiers
help us define ourselves and distinguish our abilities as unique
and different from other people.
Positioning is a powerful tool that allows you to
create an image. And image is the outward representation of being
who you want to be, doing what you want to do, and having what
you want to have. Positioning yourself can lead to personal fulfillment.
Being positioned by someone else restricts your choices and limits
your opportunities.
That's why it's so important for entrepreneurs to
transform their passion into a market position. If you
don't define your product or service, a competitor will do it
for you. Your position in the market place evolves from the defining
characteristics of your product. The primary elements of positioning
are:
Pricing. Is your product a luxury
item, somewhere in the middle, or cheap, cheap, cheap.
Quality. Total quality is a much
used and abused phrase. But is your product well produced? What
controls are in place to assure consistency? Do you back your
quality claim with customer-friendly guarantees, warranties, and
return policies?
Service. Do you offer the added
value of customer service and support? Is your product customized
and personalized?
Distribution. How do customers
obtain your product? The channel or distribution is part of positioning.
Packaging. Packaging makes a strong
statement. Make sure it's delivering the message you intend.
Positioning is your competitive strategy. What's
the one thing you do best? What's unique about your product or
service? Identify your strongest strength and use it to position
your product.
The product Nyquil was conceived as a superior daytime cough suppressant.
Unfortunately, it made people drowsy. Determined to recoup product
development costs, the side affect of drowsiness was then transformed
into a powerful positioning strategy. Nyquil became "the night
time, coughing, sniffling, sneezing so you can rest" medicine.
Nyquil created and owned the nighttime cold remedy market.
As the Baptist minister of my childhood would say at the conclusion
of a lengthy sermon, "I've said all that to say this". Positioning,
when used effectively, can help you be first in the mind. Being
first in mind equals ownership. Market ownership allows you to
be a big fish in a small pond. When you're a big fish, you can
always increase the size of the pond.
RETURN TO: The
Marketing Resource Center
