What are the key factors to consider when positioning your product?

In the intricate ballet of market dynamics, your product's value proposition stands as the prima ballerina, captivating and convincing. It's not merely a statement of function or feature, but a clarion call that resonates deeply with the needs and aspirations of your audience. Delve into the psyche of your customer segments, understand their challenges, desires, and experiences. Your value proposition should emerge as a beacon in their decision-making journey, eloquently and succinctly articulating why your product is not just a choice, but the quintessence of their solution. Spread Shark Love #divineintervention #gabenfreude

In order for it to be effective, the value proposition has to also be audience specific. If you are truly customer obsessed when you are developing your 4P's, then you know your target customers very well and understand what & when they value. Thus, the value proposition has to be specific to your target and speak to the value it creates for them. And, the value proposition has to be in the customer's language. I often see that where the VP falls flat is that it's written in terms of your own organization rather than in the language of the customer.

Focus on the pain: What real pain are you alleviating? What big problem are you solving for with your value proposition? Too many times, it's somehow great solutions looking for a problem. Your client does not care about your great technology or awesome design. If your value proposition is really useful, people will pay.

Value proposition is like the spotlight over the product or service, showcasing its benefits. It is the convincing story that makes you say, Yes, this is exactly what I need!

Value proposition is a critical aspect of business strategy, communicating to potential customers the value you offer and why they should choose you over competitors. A strong value proposition should: ? Be Clear: Use simple, direct language for easy understanding. ? Be Concise: Avoid unnecessary details or jargon. ? Be Compelling: Emphasize benefits and outcomes over features or services. ? Be Customer-Focused: Address specific customer needs, problems, or desires. ? Be Differentiated: Highlight what sets your product apart and gives you a competitive edge. Various techniques and formats, such as the Business Proposal, Value Statement Canvas, or Simple Formula, can be utilized to craft an effective value proposition.

You need to know your competitor's strengths and weaknesses so you can include a "relative position" for your product. In most cases, this is where you avoid going head to head on their strengths and you also emphasize the value you bring where they have a weakness. This is important to understand and share with the sales team so they do not try to position your product in relative weakness to your competitor.

Forget "competitor analysis", Think "Alternative analysis". This - forces you to look at the real need that might lead to buying your product - helps you look beyond a feature & price analysis of direct competition but helps you look at all main alternatives to your offer. This can be a direct competitor, but also not buying anything at all or using a completely different product or solution.

On of the most important parts of the Competitive Analysis is determining the Brand Identity and Positioning of your competitors (see my explanation in point 3). Next is to plot your competitors Brands also on the same Positioning Map (see my explanation in point 4). This map gives you a better insight how to determine your positioning strategy (point 5).

Conducting a thorough competitive analysis is essential for effective product positioning. Understand your competitors' strengths, weaknesses, and market positioning. Identify gaps and opportunities where your product can differentiate itself and offer superior value. Analyze market trends and customer preferences to anticipate shifts in demand and stay ahead of the competition. A comprehensive competitive analysis informs your positioning strategy and helps you identify strategic advantages to leverage

"This is the time of Concept Sale business" This is the right accepting task & plan strategies, Marketing & Hardworking accordingly on the ground.

The positioning statement has to be defined from the customer's point of view, with their language and terminology. This is the only way that this can be easily understood by your audience. You never want to force your audience to "translate" your collateral.

To determine your Brand Positioning, you first have to start with defining your Brand Identity. Your Brand Identity is what your brand stands for in the domain. Brand Positioning is about determining which element(s) of your Brand Identity you want to focus on the coming years. Or to put it differently, which element you want to put in your shop window, for your consumers? So please do not mix these 2 different concepts.

Developing a clear positioning statement succinctly communicates how you want your target audience to perceive your product. Define your product's unique value proposition, target market, and points of differentiation. Craft a concise statement that resonates with your audience and effectively communicates your product's positioning in the market. A well-crafted positioning statement serves as a guiding beacon for all marketing efforts, ensuring consistency and clarity in how your product is presented and perceived.

In my experience, the best approach is to start this process by understanding your relative strengths versus your competition. From this, you can pick the top 2 attributes that are both highly valued by the customer and where you have a position of strength.

The best map to use is based on Carl Jung's model. With the axis I versus We (groups) and the axis Control versus Freedom. Resulting in the 4 colors; green, yellow, blue and red. This is an universal model used in HRM to plot employees on it and used in brand marketing to plot brands on it. You can even go a level deeper by adding the 8 Core Needs or Values on this map.

Creating a positioning map visually illustrates how your product compares to competitors based on key attributes important to your target market. Plot your product and competing offerings along relevant dimensions such as price, quality, features, or customer service. Analyze the positioning map to identify competitive gaps and opportunities for differentiation. Visualizing your product's position relative to competitors helps you make informed decisions and refine your positioning strategy to effectively capture market share.

The first factor to consider is that, today, firms compete on business models, way beyond products and services. Hence, any positioning factor should be considered through the lens of your business model dimensions, beyond the item itself. In this context, the second factor to consider is that you should strategize product positioning through the 4-dimension value proposition lens to determine your strategic advantage potential: ? Functional Value: Core (does it get the job done?), Extended (non-core features augmenting the product?) ? Emotional Value: Bond with the brand beyond product ? Experiential Value: quality of the customer experience ? Societal Value: value for society transcending business that attracts purpose-like customers.

Your positioning strategy has to start with defining the end goal. You can't be the best product for all customers, in all use cases. Thus, you need to clearly define what attributes you are focusing, where you are right now (in total and relative to the competition), and where you want to end up.

Knowing the presence and offerings of competitors, as well as the stated and derived needs of consumers, is crucial. Not only will these aid the company in identifying the white?space, but they will also direct its efforts toward developing a positioning and repositioning strategy that is distinctive, consistent, and focused on the needs of its target audience.

Crafting a positioning strategy is key for setting your product apart in a crowded market. It's about defining how you'll develop, price, distribute, and promote your product in ways that highlight your unique value. This strategy needs to be consistent, making sure every aspect of your product aligns with what makes it special and appealing to your target customers. It's not just about being different; it's about being meaningful and relevant to the people you want to reach. By focusing on what sets your product apart and ensuring that every decision reflects your unique selling proposition, you create a clear, compelling reason for customers to choose your product over others.

Another great source of information will be your CRM system. Look at the opportunities Lost & Won and the reasons for the customer decision. If the information is accurate and honest, that can give you great insights on what is happening in competitive accounts relative to your positioning.

When you're tweaking your product's positioning, tapping into various viewpoints is key. Get input not just from potential users, but also from industry insiders and even competitors. This means firing off surveys, hosting focus groups, or setting up personal chats. By soaking up feedback from diverse sources, you'll uncover what people love about your offering and where it could use a polish. Tools like online surveys can simplify the data-gathering process. Ultimately, embracing this feedback loop helps you fine-tune your product's spot in the market.

What I'm not hearing here is that your positioning is interdependent upon your real product capabilities. Your value prop is just a statement. Every company embellishes a little bit on their positioning, but generally businesses have few chances to prove their value proposition to their customers. While your positioning can change over time, the fastest way to lose business is to overpromise or to position yourself in such a way that is more aspirational than realistic.

First, segment and target. Positioning will fail if not in the context of a target audience. Second, positioning is done IN A CATEGORY. Know what category. Third, know that positioning is something that happens inside the mind of the consumer. You're trying to carve out a little tiny sliver of brain space. Brain space is precious, and the consumer has no interest in letting you have it - that's the battle you're picking. The battle for a tiny tiny tiny sliver of a corner - don't make it complicated, it won't fit. Fourth - now you can go crazy with positioning maps and statements and all that jazz.