Your business and/or its products need to be effectively anchored in the mind of existing and potential customers to differentiate from competitors. The process we follow is classical and impactful:
BRAND
- Identifying the direct competition (could include players that offer your product/service amongst a larger portfolio of solutions)
- Understanding how each competitor is positioning their business today (e.g. claiming to be the fastest, cheapest, largest, the #1 provider, etc.)
- Documenting the provider’s own positioning as it exists today (may not exist if startup business)
- Comparing the company’s positioning to its competitors to identify viable areas for differentiation
- Developing a distinctive, differentiating and value-based positioning concept
- Creating a positioning statement with key messages and customer value propositions to be used for communications development across the organization
PRODUCT
- Defining the market in which the product or brand will compete (who the relevant buyers are)
- Identifying the attributes that define the product ‘space’
- Collecting information from a sample of customers about their perceptions of each product on the relevant attributes
- Determine product’s share of mind
- Determine product’s current location in the product space
- Determine the target market’s preferred combination of attributes
- Examine the fit between the product and the market