How to Position your Business – Chasing your Customers towards Success! (Part I)

You were at the midst of planning your business and you are wondering of how you will be able to establish your business in the public. This is important and what you must do is to position your firm, and build trust so you will gain the customers that your competitors have and, stay long-run in the business world.

Before anything else, are you wondering if this is really a need to a business venture, even if it’s a small enterprise? Yes, absolutely! Put this in mind, big companies started from small businesses. And, market positioning is very essential towards your business’ success. This is a positive determining perception about your products and services.

Market Positioning

If you are new to this term you might be wondering what this makes you on the success of your business. Positioning is typically defined by consumers on the basis of the product’s important attributes.

For example, if you would want a soda, what would be the first soda brand that will pop into your mind? Pepsi? Coke? This is what I’m talking about positioning your business is establishing and creating a positive image and trust into the minds of your consumers, since competition is relatively high these days, right positioning would be an influential aspect of your products or services to attain your customer’s loyalty and trust.

Good positioning will have strong and continuous increasing sales! If they will need something, you will be the first one that the consumers will think of and that you will be the people’s FIRST CHOICE when it comes to your product offerings.

With these, your business would not just survive on the competitive and chaotic business world instead you would have a long-run business life due to incessant patronage of the consumers to your products.

On the other hand, poor positioning will give you failure sales and a dubious reputation and, survival rate of your business would be short and low.

Target your Market Wisely

When positioning a product you must think beyond what your product is for, who will use it, when will it be used and more considerations for you to have the right and comprehensible product positioning. There are three STEPS to consider in choosing your positioning strategy.

First is to identify your competitive advantage and use this to create your positioning strategy. Think over what is your strength as compared to your competitors. In other words, what do you have that your direct and indirect competitors don’t?

Five Specific Ways to Identify your Competitive Advantage

Competitive advantage or your strength in terms of recognizing your physical product such as the difference of your products as per to competitor’s product in form, features, quality, performance, style, and design or attributes, etc. For tangible product-focused business this differentiation would be the best choice. People always perceive as good and quality product if the physical good is well presented and established. Design and style boosts the awareness and attraction of your customers which provides you high purchases of your products.

The second category is in terms of service. If you think you have better or the best service as compared to your customers then depart from where you are and use this way to position your business. When your physical product cannot be easily differentiated, the key to competitive success may lie in adding valued services and improving their quality to your offerings. The main service differentiators that may help you are warranties, guaranties, installation services, ordering ease, delivery, customer training, customer orientation, customer consulting and repair and maintenance, providing superior service to your customers will build customer loyalty.

Third category that would be strength of your business in different ways of channels of distribution. How will you deliver your products?

In this category you must consider your customer’s needs and wants, and think over the convenience and availability of your products. Is it on-time? You must always think that consumers hate to wait, once they bought something they are always excited to use and try on it, and convenience must always be well thought-out. Analyze and anticipate constraints ahead of time, so you would be prepared and create a good alternative so you would avoid loss not just on your customers but on your sales as well.

If you think that you have the best team members in your company, use this approach to position your business. For example, you have ventured into tutorial services and you have hired a master’s degree or doctorate degree holder in your school then flaunt it. This is the best competitive advantage since most tutorial services are mere college graduates.

Last approach that you may identify as competitive advantage is through your creative and attractive image of your business establishments. This includes symbols, signs, etc. that you can craft robust and compelling images that appeal to your consumer’s social and psychological needs. The only thing you must do is to scrutinize, test and know the trend on your chosen market on how to deal with the images to communicate with your target customers.

If you think you need more about this, stay tuned and check onHow to Position your Business – Chasing your Customers towards Success!(Part II)” article for more information and interesting ways on how to capture the consumer’s eyes. If you have something on your mind please don’t hesitate to comment below and share us your thoughts. Thanks!

 

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