Why do you think a cup of coffee at Starbucks can rob you of 300 rupees while you wouldn’t pay more than Rs. 30 for probably much better tasting cuppa at the nearest street shop even in your wildest dream?
Alos, thinking of exclusivity, luxury and elegance in technology?
Apple immediately comes to mind, doesn’t it ?
This is where positioning comes in.Positioning equals setting the context for the product. It basically defines how your product is a leader at delivering something that a well defined set of customers cares a lot about.
It should provide the customer clues to the following imminent questions-
· What is the product?
· Who is it for?
· Why should they even care for it?
Let’s also explore what positioning is NOT about. And this might make the MBA peeps furious.
1. Tag Line
2. Point of View
7. GTM Strategy
Positioning is not just a marketing or sales strategy; positioning is a business strategy. It identifies what market segment you’re competing in and the customer expectations in that segment, which will help you develop your best go-to-market strategy.
It is simply a process of how to best communicate your organization’s unique attributes to your target customers based on their needs and to counter competitive pressures.
It means making your already happy customers even happier!
Speaking of happiness…when talking about positioning, Coca-Cola is a pioneer.No wonder that the company has been able to survive for more than 125 years. The brand has always tried to bring out the value of happiness, friendship, joy, and sharing to position itself in the market. This has helped to promote engagement in consumers and in turn encouraged them to share happy experiences and moments.
How do we go about positioning, then?
It is clearly an important task for engineering growth. Here is how you can approach it –
1. Figure out your competitive alternatives
If you didn’t exist, what would your customers use?
2. Find your unique attributes.
What features do you have that your competitors lack?
3. Discover the value you are unlocking.
What value do the identified attributes enable for the customers?
4. Identify the customers who care.
Who will appreciate the value that you are adding?
5. Decide on the market segment you want to win over.
What context makes your value obvious to the target customers?
Here is a glimpse of what Harneet Bhalla, Senior Manager Growth Marketing at Glance, had to say on overcoming positioning in an org-
Most of the time you’re in the middle of the org and not at the CEO level.
So there is an existing point of view on positioning and a growth model. To bring in change and growth,here is how you can start off in order to influence leadership to factor in your goals-
- Ask questions to the leadership–what do they feel could be a positioning statement
- Arrange qualitative interviews with customers–ask them what they use your product for, who they feel are your competitors.
- Use the gap between the answers from the leadership and the consumers to start a conversation about why the take on positioning needs to be revised.
- Then you can pitch how you want to bridge the gap .
This is just a snippet of what you can learn by joining our growth marketing bootcamp .
Apply now to join the upcoming cohort & talk with leading experts from top companies, decode growth strategies and allow those conversations to boost your career in the right direction!
Harneet Bhalla, Program Director at Xpert He leads Growth at Glance|ex-1mg. He has empowered more than 5 Fortune 500 companies, multiple start-ups, celebrities and thousands of others through his growth marketing insights. Has been an active speaker at various forums and conferences including TEDx GLAU and IIT Bombay. Featured on a number of podcasts across USA, UK, Canada and India.