Benefits of marketing positioning
Market positioning has innumerable benefits. These benefits of marketing positioning stretch beyond improving the effectiveness of the strategy itself and can last well beyond the length of the marketing campaign. When done correctly, market positioning has long-lasting advantages that stretch into providing years of information. Here are some benefits of successful market positioning:
Build a positive brand image:
Effective market positioning helps companies build a positive image of their brand. This helps to attract customers and therefore spread knowledge of the company’s existence. Ultimately, market positioning determines how people view the company. Good market positioning leads to a positive representation of the company.
Increase product or service sales:
The purpose of market positioning is to sell a product or service. Effective market positioning results in increased sales, which, in turn, increases the profitability of that product. This improves the likelihood of further product development down the line, attention from consumers and investment from potential partners.
Improve your marketing awareness:
A subtle benefit of market positioning is how it improves your overall marketing awareness. Marketing is a job role that requires immense industry knowledge and finesse to truly stand out. Repeatedly leading successful market positioning enables you to grow your understanding and skill when it comes to marketing.
Target your audience directly:
Market positioning is one of the most effective ways to communicate directly with an audience. This allows companies to relay any messages they require, such as an upcoming promotion, to their desired audience. Market positioning is an efficient way to target a good to its intended consumer base with ease.
What to consider in market positioning:
There are many elements of a market positioning strategy to consider. They often think of these elements in relation to the competitors’ products or services. They do this to ensure that they optimise the market positioning as best as possible to cover every area. Here are some factors within a market positioning campaign to bear in mind:
▪︎How the market positioning engages with potential customers.
▪︎How the market positioning impacts the company’s current market share.
▪︎How the market positioning has changed due to information from previous campaigns.
▪︎How social contexts influence market positioning.
▪︎How the market positioning is going to affect competitor campaigns.
Conclusion
There may be a variety of factors that your team might want to consider, depending on what your campaign is. The listed factors are things you want to consider regardless of the campaign you’re running and want to keep at the forefront of your mind throughout the market positioning process.
Call to Action
The purpose of market positioning is to sell a product or service. Effective benefits of marketing positioning result in increased sales, which, in turn, increases the profitability of that product. Here’s your call to engage with us today for your market positioning needs.
