Planning to expand your reach into new markets..?
Developing New Products..?
Looking for an edge in a mature market..?
Developing Your Competitive Positioning Strategy is important for you to gain market share, improve profits and build a competitive brand that will maximize your return on investment when you are ready to exit your business.
Are you ready..? Let's get started..!
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Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
Competitive Positioning
1.
2. Business Has Only Two Functions
“Innovation and Marketing”
Fawcett Group will help you with Both..!
- Peter Drucker
3. Competitive Positioning Strategy
Your competitive positioning strategy is the foundation of
your entire business – it’s the first thing you should do
when preparing to launch your new company or product.
It’s also important when you’re expanding into a new
market and looking for a new edge.
If you’re already selling your product into the marketplace,
the first step is to profile your market.
5. Project Summary
Competitive Positioning is the single most important area business leaders
should address for long-term sustainable growth.
Market Profile: size, competitors, stage of growth
Customer Segments: groups of prospects with similar wants & needs
Competitive Analysis: strengths, weaknesses, opportunities and threats
Value Proposition: the type of value you’ll deliver to the market
Positioning Strategy: how you’ll position your offering to focus on opportunities
When your market recognizes the difference in your product or service offerings
from that of your competition, it becomes much easier to generate new
prospects and successfully move them through your sales pipeline.
Without differentiation, it requires significantly more resources to persuade
prospects to choose you, more often than not resulting in price competitions
that decrease margins and are extremely difficult to sustain over the long term.
6. Why it’s Important
You need a strong understanding of your market to effectively
carve out your space in the marketplace. It’s vital to match
your positioning to your market lifecycle stage so you can
deliver the information the market seeks.
What Builds Upon it
Your market understanding and the position you take affects
your competitive strategy. It will also influence your Brand
Strategy, and should influence all of your marketing campaigns
and selling activities.
7. Projects
1. Find a New Market for an Existing Product/Service
2. Profile Your Market and Your Position
3. Understand Your Prospects Problems
4. Evaluate Your Competition
5. Define Your Value Proposition
6. Competitive Positioning and Action Plan
8. Deliverable
Working together; we’ll create a positioning strategy (plan) that
will gain you more market share and higher profits.
Long-term, this is the foundation that will build you a highly
competitive brand that will empower you to leverage a higher
return on your investment when you’re ready to exit the
business.
9. Are You ready..?
Let’s get started…!
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