6 types of market positioning strategies

“Positioning is not what you do to a product.
Positioning is what you do to the mind of the prospect.
That is, you position the product in the mind of the prospect.”

Read more about 6 types of market positioning strategies.

Introduction

Market positioning is one of the fundamental elements of marketing. Besides that, it is also a brand’s unique way of providing value to its customers.

Proper positioning is choosing to be perceived as something specific in the mind of your potential clients. That way they can associate your law firm with an unique solution to a certain problem.

Successful market positioning strategies are based on a several foundations. First- the deep understanding of your service, then the marketplace and last- differentiating your company from the competition.

Here are some types of market positioning strategies:

1. Product value

Using product characteristics as a positioning strategy associates your brand with a certain value that is beneficial to customers.

For example, your main law firm’s value can be based on reliability. By using the proper communication tools, your brand will be known as reliable to the customers.

Furthermore, have in mind that brands consistently communicate the most unique benefit of the product with consumers.

2. Product price

Pricing is an essential factor that impacts the decisions of most customers. Therefore, positioning your services based on price is associating your brand with competitive pricing.

However, positioning solely on price is a dangerous territory. There is no loyalty for businesses positioned on the low end of price. Resonably, the customer will go to who is offering the lowest.

Product value is one of the market positioning strategies.

3. Product quality

Logically, positioning a product based on its quality is different from positioning based on price.

Often the high quality service is the focal point of brand’s communication. That reason for that is to create a desire so customers want the product regardless of the price.

Price and perceived quality usually go hand in hand, which is why they’re often the starter attributes for perception maps.

4. Product use

Associating your product with a particular use is another way to position your brand in the market.

Different positioning of the same service aims to target different audience. That way they can satisfy numerous customer needs in the process.

Knowing your audience is one step towards the successful market positioning.

5. Customer needs

Knowing your target market and how you will fulfill their specific needs is also an important part of your marketing strategy.

Bringing a solution to your customer’s problem will ensure you their loyalty and very likely an expansion of your audience.

6. Competitors

Certainly, differentiation is what sets your product or service apart from the crowd.

Positioning your brand as unique and presenting it to your customers as a better choice could reduce your competition.

Conclusion

Besides these examples, your company’s positioning strategy will be affected by plenty of variables. For example, they will be related to customers’ requirements and motivations as well as by competitors’ actions.

Explore these positioning strategies in order to place your services as favourable compared to other options in the marketplace.

Read more about the most effective market positioning strategies in 2021.

Carmine Cloak specialized in helping companies define and execute effective marketing strategies.

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