Encyclopedia

If you have competitors, how do customers see you in relation to them? Whatever the answer, this is your market position. What do customers think you do? What do they think you deliver? What do they think of your enterprise? What are you well known for? What words do they associate with your brand? If I rang some of your customers and asked them these questions, what would they say to me? How should you position your brand? For example, should you go upmarket or go downmarket? Should you be seen as reassuringly expensive or as cheap as chips? Are you focused on customer service, product excellence, price or something else? These are strategic business and marketing decisions. Every decision that you make affects your market positioning. Your actions speak louder than words, when it comes market positioning. Every time that your customers engage with your brand, their perception of your market positioning is either affirmed or challenged. Besides products and services, a key issue is human interaction. You can buy a great product and feel let down...