Positioning is the impression you create in customers’ minds about your product. It establishes how different your goods and services are compared to other businesses in the market. You should settle on the market you want to influence before launching a marketing campaign to influence the client’s perception of the position of your products.

You must make your brand appealing to compel your targeted market to think and feel they must have your product. Make use of the following position strategies to achieve this.

1. Product Characteristics-Based Positioning

Using this method, you can position your product as one with unique features that no one else in the market can provide. You can convince your potential customers that your brand offers products with characteristics that best fit them, attracting them to your business.

A good example would be how Volvo has positioned itself as the company with the safest cars in the automotive industry. In doing so, any client looking for a safe vehicle will likely prefer a Volvo, even when other car features are not the standard they would like.

2. Cost-Based Positioning

You can position your product as a market’s favorite by offering competitive prices. If you sell your goods and services at much lower prices than your competitors, the prospects on a budget will always choose your product over others. They will automatically start buying your products without checking the price, as they associate it with fair prices.

3. Competition-Based Positioning

With this positioning strategy, you can focus on your competition and influence the clients to think you offer better products than them. You can point out the flaws in other products in the market that yours don’t have. If you provide your products with similar prices, the clients will, over time, prefer your products as their minds will perceive them as the obvious choice.

4. Luxury-Based Positioning

A majority of people want luxury in their life. You can target this market by positioning your brand as one that caters to quality and luxury. Influence the customer’s mind to associate your products with luxury.

People will buy luxury products at high prices for brand recognition alone. Sometimes, the products may not be of better quality, but in the customer’s mind having the item is synonymous with being luxurious. A good example would be how Louis Vuitton’s clothes are associated with quality clothing.

5. Convenience-based Positioning

You can use this strategy to communicate to your clients that your products will make their lives easier. You can make your clients’ lives more convenient by offering quick access to your products and making them easy to use.

Everyone wants an easier life. If you can convince your customers that your brand will simplify their lives, they will automatically prefer your products to others on the market.

Conclusion

You can increase your business’s revenue by creating attractive products for many clients. Being innovative will assist you in doing this. Learn more about innovation by visiting https://strategyn.com/outcome-driven-innovation-process/