What is positioning and why is it so important? Product positions are based upon customer perceptions and reflect the characteristics most important to them. These perceptions are often reinforced through advertising, branding and product packaging and are what differentiate your product from those of your competitors.
In today’s global marketplace, companies need effective strategic positioning because customers have access to more choices than ever. If you don’t stand out in that sea of choices, you lose. Successful positioning will ensure you a spot in the minds of those who purchase or recommend your product or service.
At Vernon Research, we can conduct positioning studies to help you understand:
- The current position of your products
- The position of competitive products
- Where your products should be positioned – and how you can get them there
- Strategies for creating a positive image or identity in the minds of your target market for your products, brand, or organization
- How to design your marketing efforts to satisfy the specific needs and tastes of consumers and buyers in a target market segment
- The most effective way to differentiate your products from your competitors
Questions Vernon Research can answer:
- How do customers and potential customers currently view my company or organization?
- What’s most important to consider when positioning my product or service?
- How does the average consumer or buyer evaluate my product before purchase?
- Should I position my product in the same market as my competitor? Is there a place in the market not being filled right now?
- Can I successfully change my market position?
How do customers and potential customers currently view my company or organization?
Collecting information from a sample of customers or potential customers about their perceptions of each product and its attributes and your organization as a whole will help you understand what image they have of your company and its products. It can be extremely helpful to survey these groups separately to understand if prospects’ views of your company change once they have conducted business with you.
What’s most important to consider when positioning my product or service?
We will help you identify what features are most important to potential buyers – and what features will set you apart from your competitors. For example, maybe research finds that quality has the highest importance to the customer and that prospects perceive your competition as having poor quality. Using this information to create and communicate a product with high quality can help you gain market share.
How does the average consumer or buyer evaluate my product before purchase?
The buying process is complex and is influenced by both internal and external factors. In fact, there are specific steps that a customer takes before reaching a decision to buy. We’ll help you determine the process your target market goes through and the motivations at each step, so you can successfully position your products for purchase.
Should I position my product in the same market as my competitor?
Product differentiation is the key to surviving in the crowded marketplace. By conducting a competitive positioning analysis, you can compare your products and services relative to your competition and determine which attributes and benefits are important to the customer. This allows you to position your product or service based on those attributes and benefits. It can also help you identify a smaller segment of the market with specific needs you can call your market niche. By focusing your resources on a smaller and more specific customer base, your business may be able to serve this group better than your larger competitors while using your resources more effectively.
Can I successfully change my market position?
Conducting a market research positioning study may leave you feeling like you want to adjust your market position. You may wish to change a product’s position or even the position of your organization. In today’s evolving market, expectations of customers, investors and employees can cause a company to change its positioning to meet the needs of stakeholders. At Vernon Research, we can provide you with the accurate information you need to effectively reposition a product, service or even your business or organization.