Written By Dr Laide Okubena
It all depends on your positioning and perception in the market place.
What is Market Positioning?
Market Positioning refers to the ability to influence consumer perception regarding a brand or product relative to competitors. The objective of market positioning is to establish the image or identity of a brand or product so that consumers perceive it in a certain way.
If your business is positioned at the bottom of the food chain ofcourse you will be at the mercy of the market place.
You can Choose to be the Gbo Gbo Ero Brand , meaning you can choose to be for Everybody or you can even choose to be Everywhere.
Quick one when you choose to be Everywhere at the same time , you may also be sending a message you are for the gbogbo ero brand for everyone.
You can decide to the common brand
Or alternative brand
Or the Premium Brand.
For Example ,the bottle of Bottle water or Coke You buy in traffic is probably 100 Naira, A bottle of Coke or Water is about 700 to 1500 Naira.
Same Bottle But Different Customers.
The Guy in traffic has to sell like a Crate of Bottle water or Coke to make the Value of one Bottle Sold in a Five Star Hotel.
How Does the Five Star Hotel Get the Client to Pay 1500 or 1000 for the Same Bottle , Some people or Even Same People buy in traffic for 100 Naira.
They Understand their Customers DNA
Desires ,Needs and Aspirations.
And You need to LEARN how to do the same because your positionimg determines your perception and Your perception determines your pricing.
If you want to be priced better you have got to positioned better.
For example:
A handbag maker may position itself as a luxury status symbol
A TV maker may position its TV as the most innovative and cutting-edge
A fast-food restaurant chain may position itself as the provider of cheap meals
Types of Positioning Strategies
There are several types of positioning strategies. A few examples are positioning by:
Product attributes and benefits: Associating your brand/product with certain characteristics or with certain beneficial value
Product price: Associating your brand/product with competitive pricing
Product quality: Associating your brand/product with high quality
Product use and application: Associating your brand/product with a specific use
Competitors: Making consumers think that your brand/product is better than that of your competitors
Question of the Day
How do you position your business and brand in a better way?
What are you putting out there that you represent in terms of your content, your vision or mission statement before your clients?
Thanks for your attention and please enjoy your day.
Dr Laide Okubena