Market positioning is a way of describing your customer’s view of your product or service in relation to your competitors. Using a marketing positioning tool can help you examine the products and services already in the marketplace in order identify ‘gaps’ in the market and therefore opportunities.
Your marketing positioning strategy will help you differentiate your product and service in your customer’s eyes. There are several types of positioning strategies;
Product attributes and benefits: Associating your product with certain characteristics or with certain beneficial value
Product price: Associating your product with competitive pricing
Product quality: Associating your product with high quality
Product use and application: Associating your product with a specific USPs
Competitors: Giving factual reasons your product is better than that of your competitors
You can download an example of a Market Positioning template here;