What are the steps of market positioning

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Edited at 2021-10-04 19:21:44

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What are the steps of market positioning

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Outline

What are the steps of market positioning?

Identify the specific market groups for which the product or service is intended. Consider consumer needs, preferences, behaviors and characteristics.

Investigate market conditions: Understand information such as market size, growth trends, competitors, and market segments.

Analyze target customer groups: Study the characteristics, needs and purchasing behavior of target customers, including age, gender, geographical location, income level, etc.

Assess market potential: Consider market size, growth rate, degree of competition and other factors to determine the market's attractiveness and potential opportunities.

Identify differentiating advantages

Identify the differentiating features of your product or service from competitors that will make it stand out in the market.

Brand positioning: Determining the unique value proposition of a product or service in the target market and how it differentiates it from competitors.

Product Features: Identifying the unique features, performance, design, or other characteristics of a product or service that meet the needs and expectations of target customers.

Service Quality: Identify ways to provide quality customer service to enhance differentiation from competitors.

Conduct market research

Collect and analyze information about target markets, competitors and consumer behavior to provide a basis for market positioning.

Collect data: Obtain quantitative and qualitative information about the target market through subjective and objective data collection methods.

Conduct surveys: Understand your target customers’ needs, preferences, and behaviors through surveys, interviews, and focus groups.

Analyze data: perform statistics, analysis and interpretation of collected data to extract valuable information and insights.

Develop a positioning strategy

Based on the results of market research, determine how the product or service is positioned in the target market.

Select target market segments: Divide the target market into different segments and select based on needs and potential opportunities.

Determine the positioning concept: clarify the differentiated advantages and value proposition of the product or service in the target market, and how to communicate it to consumers.

Determine market share goals: Set market share expectations for your product or service in the target market to guide sales and marketing activities.

Implement market positioning strategy

Implement positioning strategies through marketing, sales and customer relationship management.

Establish brand image: Shape the unique image and perception of products or services through brand marketing activities and communication channels.

Carry out market promotion: Use advertising, promotion, public relations and other methods to convey positioning concepts to target customers and promote sales and market share growth.

Maintain customer relationships: Establish and maintain good relationships with target customers through customer service, complaint handling and loyalty programs.

Monitor and adjust

Regularly evaluate the effectiveness of market positioning strategies, and make adjustments and optimizations based on market changes and feedback information.

Track market response: Evaluate the effectiveness of your positioning strategy through metrics such as sales data, market share, and consumer feedback.

Analyze competitive dynamics: Understand competitors’ movements and market trends, and adjust and optimize positioning strategies in a timely manner.

Optimize marketing: Adjust and improve marketing and sales activities based on market changes and feedback information.