Market positioning is the process of defining your business or brand in the mindset of your target audience. It implies how a company wants to differentiate itself and remain unique in the market chosen by the subcontractor.
Market positioning is an understandable and indispensable marketing strategy that plays a crucial role in the performance of any business.
Why is market positioning important?
Market positioning isn’t just fancy marketing jargon, it’s an imperative tactic that impacts your entire business strategy. It’s so essential because it helps your company understand the market and determine the space it wants to occupy on it. It’s also about how you get your target audience to perceive your brand the way you want them to.
Market positioning in the action plan
Successful market positioning requires a clear vision of the brand, the business USP ( unique selling proposition), a comprehensive market analysis and a deep insight into the buyer persona and the customer journey of your customers.
Elements of market positioning
Market positioning is not just a simple marketing purpose, but a whole set of elements that together define your brand’s position in the market. These elements include brand identity, USP, pricing models, marketing mix, competitor analysis, and more.
Ultimately, market positioning is at the heart of any successful marketing strategy. It’s about figuring out where your business stands in the marketplace, how you differentiate yourself from the competition, and how you persist in the minds of your customers. Your positioning is your guide to effective and sustainable interaction with customers, enabling any business to deliver value tailored to the needs and desires of your target audience.