One of the most common mistakes when it comes to launching a new product is failing to implement the right product positioning strategy. Without the right product positioning, you run the risk of an ineffective marketing plan which ultimately results in poor sales.
A good product should be supported by an equal, if not better positioning strategy. This will help the brand create a unique product image in the minds of customers and help standout in a competitive market. If you haven’t been focusing on product positioning from day 1, now is the time to address this.
Remember Products are made in factories, but brands happen in the minds of consumers.
You need to understand that not every consumer is able to afford certain products, and for that reason there’s always a market for every consumer.
A consumer might like Range Rover but cannot afford it, the next option will be the Land Cruiser or even the HummerH2, you will get the performance, but you will not get the luxury due to the price difference. These equal comparisons is how consumers can make purchases without spending time to research every product.
Consumers position certain products and services, and they start comparing them with other facing products.
Product positioning requires more than simply articulating the unique value proposition of your product. It also requires that you find a way to connect on an emotional level with your prospective users and buyers. You must ensure that they have a strong, positive feeling about your brand when they encounter it.
By positioning a product or service effectively, companies are able to better target their customers and create a unique value proposition. This, in turn, can help to increase sales and market share. Keep in mind that if you don’t take proactive steps to influence those emotional reactions in your users, someone else will. This makes it even more important to make your product unique and to position your product for success!