Maximize profitability and market growth strategies
“Product positioning is like a roadmap. Not knowing your position means you have no idea where you are, where you are going or how you will get there.”
Guy Smith, Silicon Strategies Marketing
Objective: Understand your current and future competitive and market-need position, with segment acquisition priorities.
Benefits: Assure cash flow that feeds development, which brings products to more segments and markets.
Silicon Strategies Role: Deliver precise views of your product’s position in the market and define paths to maneuver past and surround your competitors.
Product positioning serves several purposes:
- Knowing where your product stands today in your market and segments
- Seeing a clear path to the next steps/segments in market share acquisition
- Communicating your unique value and position at each stage
Not knowing your product position creates three serious problems:
- You have no idea how the market compares your product against competitors, and thus you do not know how to promote, price, create messages, etc.
- You cannot determine the next best opportunities for enhancing your products and moving your product’s position.
- You cannot devise a path from where your product is to where it should be in order to defeat competitors.
Documenting your current market position requires a number of complex steps:
- Document and use the most important positioning vectors as viewed by your buyer genotypes
- Measure the perceived and real strength of each competitor along the critical vectors
- Repeat this process for each segment in which you compete, extrapolating market-wide positioning
- Identify inter-segment opportunities that maneuver your products past your competitors
What makes this process complex is that every market, segment and product category is different. Applying arbitrary rules while creating product positioning maps will lead to false assumptions and product failure. Silicon Strategies Marketing consultants will:
- Determine the appropriate vectors for measuring product positioning within your unique markets and segments
- Determine your current market position
- Identify the optimal path from your current position to your desired market position
- Determine the best set of product enhancements to change your product position and acquire greater market share
- Educate your staff on product positioning as a strategic aspect of your marketing plan
Product positioning creates a clear vision of your place in the market. Armed with a clear market map, you can initiate swift, economical changes that generate more revenue, build brand loyalty and take more market share.