Competitive positioning strategy is about defining how you will differentiate your product or service and create value for your market. It’s about carving out a spot in the competitive landscape and focusing your company to deliver on that strategy.
When your market, whether it be potential franchisees or consumers, clearly see how your offering is different than that of your competition it’s easier to generate more prospects and guide them to buy. Without differentiation, it takes more time and money to show prospects why they should choose you and as a result you often end up competing on price – a tough position to sustain over the long term.
Competitive positioning strategy should be the foundation of your entire business – it’s the first thing anyone launching a new company or product should do.
If you already have a positioning strategy, Marketminds can review where you are at and make positive suggestions for improvement. If you do not have a positioning strategy, Marketminds can develop one for you using the following simple steps:
- Profiling your market
- Segmenting your market
- Evaluating your competition
- Defining your Unique Selling Point
- Staking a position for you