competitive positioning: start with a market profile
Post on 17-Oct-2014
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DESCRIPTION
Your competitive positioning is the foundation for your entire business. Learn how to create a strong market profile that is the foundation for your competitive positioning and brand strategy.TRANSCRIPT
Competitive Positioning StrategyStart with a Market Profile
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Competitive Positioning Overview
The foundation for a successful business.
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Strategy Questions
Competitive Positioning
Strategy
Product
Differentiation
?
Value Proposition?
Market Niche?
Mind Share?
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Create a Market Profile
Creates a picture of the market and the typical buyer’s distinctive characteristics.
Build your brand for these buyers.
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Step 1: Quantitative Research
Classical Market Profiling Approach
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B2B Example
What industries do you serve? What SIC codes?
Is your product marketable to more than one industry category?
What is the sales potential in other secondary industries?
Is the overall business category expanding or contracting?
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Geography
Define the geographical location of customers.
Is positioning local, national, or
global?
Is the product multi-cultural?
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B2B Demographical Analysis
Quantify the Size of Target Business
Define the Growth Phase
Determine How the Companies
are Owned
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End-User Demographical Analysis
Define the General Demographic Descriptors:• Age, Gender, Income, Marital Status, Family Status
Analyze Similar Behavioral Patterns:• Occupations, Clubs, Related Interests
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Size and Trends
For Both B2B and Consumer Markets
Number of Potential Consumer or Commercial Prospects
Spending Habits
Average Income or Annual Business
Revenue
Individual Demographic
Trends or Business Trends
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Include the Human Elements
Market to Real People, Not Statistics
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Examine the Psychological Motivations
• What issues do your customers face?
• What are their pains and desires?
• Who is the decision maker for the purchase?
• Are there multiple influencers in the decision?
• What are the purchasing processes and key players?
• What is the buyer personality?
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Next Steps
Use Market Profile to Define Brand Strategy
Accurate Focused VerifiableStrong
Foundation for Success!
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Additional Resources
Brand Strategy & Competitive Positioning Tools
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