Organizations aim to position themselves in a specific area of consumers’ minds. They are always trying to change the consumers’ perception of themselves in comparison to their competitors. In simple terms, this is known as establishing a brand image. Market positioning is a strategic activity that we employ to develop a brand’s or product’s image in the minds of consumers. The four Ps are used to achieve this: promotion, pricing, location, and product. The more specifically you define the Ps in your positioning plan, the more efficient it will be. The following are examples of market positioning: Customer requirements or Understanding your target market and how you’ll meet their special requirements. Price of the product or p resenting your brand/product as a low-cost option. Product quality or positioning your brand/product as superior. Allying your brand/product with a certain purpose or product use and applicability. Competition or positioning your brand as superior to others. To make successful positioning happen you need to create a strategy that works and everything here starts with a positioning statement and a tagline which you need to create on your own or with the help of marketing professionals. Next up in the list are conducting a competitor analysis to know who will you be up against and finding out what is your current position to understand where you stand at the moment in time. And finally, use ads to improve, create and establish your market positioning after carefully completing the above mentioned steps one by one.
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