Don’t copy your competitor
Right positioning helps attract right customers
Right positioning helps attract right customers
Business fail to differentiate from their competitors, as they are trying to sell similar products. Instead of focusing on products, businesses should focus on the minds of their prospective customers.
Marketers Jack Trout and Al Rise developed principles of positioning. It means the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.
8 key insights about positing are:
Customers think category first, brand later.
Most consumers have room in their minds for only a few brands in each category.
The most important marketing decision you can make is what to name the product.
Occupy the open hole or position with regards to the brand’s category.
Advertising a feature which is there in prospects’ minds is better than advertising a major feature nobody knows about.
Once a brand occupies minds, it is difficult to move to other category.
Customers do not remember initials. They remember initials of names.
Tag line and slogans do not position the brand.