Look for the hole
Right positioning is about finding the space in customer’s mind
Positioning
Right positioning is about finding the space in customer’s mind
Products fail as the businesses launch a me too product with better features. About 75% of consumer packaged goods and retail products fail to earn during their first year.
Al Rise writes in his book Positiong: It is not enough to be better than the competitor. You must introduce your product before someone else has a chance to establish leadership. With a more massive advertising and promotion launch. And a better name.
In contrast the new products are marginally better, with lesser advertising and launch budgets. The name is a house-name to earn the market share. Other competitors are trying the same. As a result the product fails. Instead, businesses should look for the hole.
It means finding an open position in the prospect’s mind. The hole can be size (Volkswagen Beetle), high price (Apple), low price (Kingfisher beer) and gender (Marlboro, Virginia Slims, Revlon’s Charlie). Three common mistakes while finding the hole are: one, not to build a product for oneself (Tata Nano). Two, not to use technological superiority to position (Microsoft Zune). Three, to be all things to all the people.