Positioning in Marketing

As you saw in the video, positioning is the process of occupying a meaningful and distinctive position in the minds of your target consumers, relative to the competition. This is needed both to improve consumer value and to differentiate yourself from competitors.

Steps for improving consumer value:

1. Identify the top elements of value to the target consumer.

2. Holistically design your offering to satisfy those elements better than any other competitor. This includes all aspects, such as product, price, place and promotion.

Apart from generating consumer value, it is also important to use positioning to differentiate from competitors. 

Next, you saw an important tool here that is a perceptual map.

Follow these steps to differentiate your product or service from your competitors: 

1. Identify the product’s key features. Make these features the axes.

2. Place existing competitors on the map.

3. Decide on a competitive strategy based on the map. Decide on points of parity and points of difference, compared to your competitors.

Take a look at an example of a perpetual map: 

In the next segment, let's go over everything we have learnt till now.

More often than not, most consumers rely on their perception of a particular brand, and a marketer can use this opportunity to shape their consumers' perception of their brand. This process is called positioning a brand's image in the minds of its target consumers. 

Let’s learn more about the positioning process in the following video.

In the next video, let us take a look at how to identify the key value points for a customer and position yourself accordingly.

In the next video, we see how to use research and form a positioning according to the consumer need.

In the above video, you looked at positioning your brand or product in such a way that it bridges the gap between what the customer wants and who you are providing.