How to Create Accurate Product Positioning
Every brand needs to create the right business plan and product positioning when entering the market. Basically, positioning is not a way to maximize product quality, but a step to make the product offered have the best assessment from consumers.
Through the right product positioning, your product can steal the attention of consumers according to the target market. For more details, below is an explanation of what product positioning is and how to design it to suit your target market.
What is Product Positioning?
Product positioning is the process of creating a unique identity for a product to suit market segmentation and targets.
Basically, product positioning is not about explaining product benefits but rather identifying product targets. This makes consumers see the attractiveness of the brand.
Therefore, the purpose of product positioning is a matter of creating the perception that your product is very different and better than your competitors.
When determining product positioning, you need to determine the position of the product in the eyes of the target market. Does your product meet or simply complement consumer needs? It will be easier to find out the market segmentation to target for the products being sold.
There are various ways to create product positioning to suit the target market. Understand competitors' strengths and weaknesses to compete more healthily. Successful businesses always have a way to start serving customers better.
Not only to steal attention, companies that are obsessed with customers have better business progress than companies that focus on themselves.
How to Create Product Positioning that is Right on Target
As an entrepreneur, you certainly need to create product positioning that suits your target market. Here are several ways that you can do with business partners to create the right product positioning.
Know the target market
If you want to truly understand and comprehend the target market, understand its behavior. For example, for a sticker printing business with various colorful images.
Think about who will buy that item? Are teenagers, children, or mothers who like this picture? At this stage, you are defining buyer personas.
This persona helps you understand the motivations, difficulties and behavior of consumers who want to buy merchandise. Generally, buyer personas are defined by:
- Demographic data (gender, age, income, socioeconomic status, ethnicity)
- Consumer behavior (what they talk about, their interests and preferences, and how they search for goods)
- Purpose of purchase (without a definite need, consumers will have no reason to buy goods)
Think carefully about how you can facilitate consumer needs, this will go a long way in promoting your product.
Understand your competitors
If you already have competitors in the business sector, you need to understand how they work. You can buy one of the competitors' products to see the service when buying and the quality of the goods. This method can provide input and identify the differences offered by other products or services in your business.
Determine the selling value of your product
In this method, you need to determine the selling value of goods or services as appropriate product positioning. Generally, brands see this gap and offer the most affordable prices.
For example, you will open an iced milk coffee business with low prices but premium quality ingredients. This is quite challenging because it can disrupt cash flow, but it's worth trying to get product positioning first.
If you refer to the example in the first point, for example if you open a sticker printing business with images of musicians and film characters, make sure the price is in line with the target market, namely those who are interested in the arts. This is one way to determine the selling value of goods to the right consumers.
Determine your product's key message
When you decide to sell something, of course there is a message you want to convey. Take, for example, a coffee shop business that is friendly to stomach acid sufferers. Then you can create a tagline according to the message and market segmentation that was determined at the beginning.
Don't forget to create product descriptions that steal attention but remain clear, so consumers can easily understand.
Do a test run
After carrying out steps one to four, it's time to test as often as possible. This trial can be done by marketing to your closest friends, while asking for their testimonials regarding your product.
It doesn't matter that there are a lot of revisions at the beginning of the journey, later adjust it to your goals in selling the product. Do you want to make people who have stomach acid feel comfortable drinking coffee? Or make stickers of musicians to commemorate their idols?
From the start of product planning, it is important to form the right persona to find your consumer segment. Through the Strategic Brand Management program, you will gain insight into forming the identity and identity of a product for its long-term sustainability.