Market positioning will help us tell our customers and the entire market how they should see our product or service, brand or organization in relation to the competition. In a nutshell, brand positioning describes how a brand differs from its competitors and how it stands in the minds of customers. Below we share steps to establish a market positioning strategy, according to Stanton, Etzel and Walker in their th edition of the book Fundamentals of Marketing Steps to Establish a Market Positioning Strategy Market Positioning Strategy Step Choose the concept of market positioning To position a product, brand or an organization, as an entrepreneur you must start by determining what is important for the target market.
From there you should carry out market positioning studies to find out how the members of the target market see the products or services of the competition in the Latest Mailing Database important dimensions. Examples of dimensions could be in the case of services Expensive, Cheap, Fast, Quality, Specialized, Generic. To carry out the market positioning study, you must carry out marketing research. To do this, you must create a form with questions related to your competitors. As many questions as necessary. For example How do you perceive the consulting service of the company Brand A ? a expensive b cheap Do you consider that the services of the company Marca B area High quality.
Low quality The results of this research must be emptied into a perception map that will situate your brand or organization in relation to your competitors in the dimension in question, and also allow you to design your market positioning strategy. Below we show you an example of a perception map that you can use as a model when designing a market positioning strategy, as well as to determine new opportunities in the market or some market niche without being attended. Market position map . Market Positioning strategy map For example, in the market positioning map we can detect the opportunity for the consulting agency ¨Imagine Hub¨ . We can see that no other agency occupies the position of offering a high quality service at a reasonable price.