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In today’s growing competition, having a unique voice for your product or service is a must. Otherwise, you’ll lose yourself in the crowd. So, it is essential to plan out strategies to position your product in such a way that it holds the mind of a target market segment. Positioning Strategy for Product Differentiation will help you grab a greater market share.
What makes you different and better?
To be different and better from competitors, you must place your product in the market so that you instantly grab the major market segment. Let’s discuss positioning & differentiation.
#Positioning
Positioning is the place you want your business to hold in the target audience’s mind. Basically, positioning is the strategic process that marketers use to determine the place or niche where they offer their product to their target customers.
When you position a product or service, you answer these questions:
- Place: What place does the company occupy in its market?
- Rank: How does the product or service rank in the target market segment in comparison to competitors
- Attitude: How do we want customers to think about this offering and its benefits?
- Outcomes: What must we do to ensure the product or service delivers on the positioning we select?
Positioning can be hard to detect, but you can spot when it conforms to your perspective as a consumer. For example, in the automobile industry, cars like BMW and Volvo is the luxury cars, so they target the cream of the market, whereas cars like KIA and Hyundai target the budgeted audience of the market.
# Differentiation
Differentiation and positioning are closely related. It is the process in which a company provides unique value to its product or service to stand out better in the target market than its competitors.
Differentiation is producing a product in such a way that it has some set of unique features and benefits for its target audience. The main essence of differentiation is that the competitors won’t be able to replicate or duplicate.
Positioning and differentiation are connected in important ways. Effective positioning for a product or service is based on the differentiating characteristics or qualities that make the product/service better than the competition in the minds of the target segment. Positioning Strategy for Product Differentiation can be a game changer for the business.
After you decide on what parameters you want to create a product differentiation for your products, the business needs an effective strategy to position the product in the market to gain the maximum benefit.
Product differentiation will lose its value if you don’t have effective strategies to position the product in the target market.
SlideTeam provides a readily-designed deck on Effective positioning strategies for product differentiation; it will make your work hassle-free and less time-consuming. Here are some of the important slides that should be part of your PPT, and trust me, it will be a game changer for you.
# Introduction
Introduce the deck with an impactful cover slide either by exhibiting the name of your company or you can also mention the name of the topic. It aids in putting forward a strong case in front of your audience or the viewers of the PPT.
To start with PPT, we’ll add a slide that briefly introduces the viewer of PowerPoint to What is product positioning in marketing? This slide covers the meaning of product positioning for better product perception. It also includes communication elements for product positioning. i.e.
- How the product can solve customer problems
- Better solutions for competitors’ products.
Now, to give more insight to the viewers about the topic we have added the slide; why do companies need to create compelling product positioning strategies? This slide covers the benefits of product position to the organization. It includes advantages such as defining the uniqueness of the product, explaining value offerings, figuring out desired product perception, communicating product value, etc. This is one of the essential slides to include in the deck as it provides the essence of preparing this PPT.
You can mention the Product positioning strategy core elements, as the strategies being formed highly depend on these core components mentioned in the deck. The major core components are:
- Vision
- Mission
- Market category
- Customer challenges
- Company differentiator
- Brand Essence
- Product positioning statement.
# Types of Product Positioning in the Market for Product Differentiation
Different types of positioning are currently existing in the market. You have to form the strategy for each type effectively. The first type discussed in the market is the Price-based product positioning strategy. It includes the impact of product positioning based on price strategy, and you can include examples of strategy to give more perspective to the audience.
The following slide in the deck involves the second type, i.e., Quality-based product positioning strategy. In this slide, you can mention the impact of this strategy along with the example.
Another type discussed in this deck is the Competitor-based product positioning strategy; this slide covers a positioning strategy formulated based on competitors. You can mention the impact of this strategy along with the example.
The following slide talks about the Application-based product positioning strategy formulated based on product application. Mention the impact this strategy carries and how we benefitted from this strategy. You can include an example of this strategy, as it makes the PowerPoint more relatable.
One of the most relevant and used strategies for product positioning is the Product characteristics-based positioning strategy. So, the next slide covers a positioning strategy formulated based on product characteristics. Briefly explain the impact of this strategy, and you can add a real-life example to draw the instant attention of the viewer.
These are different positioning strategies discussed in the deck; you can implement any of these or even all the strategies per your product or service the business deals in.
# Steps to Create an Effective Positioning Strategy for Product Differentiation
In this deck, we have included slides for each step used to create an effective positioning strategy. This slide covers the process of building a successful product positioning strategy. It includes steps such as
- Understanding customers
- Understanding the market
- Product assessment
- Identifying communication channels
- Creating a product positioning statement.
The following slide discusses Step 1-Understanding the target audience for product positioning; this slide covers the process of the target audience analysis for better product positioning. The further steps are:
- Gathering customer details
- Identify customer’s
- Understanding customer buying behavior
The following slide talks about Step 2-Market analysis, for understanding competitor strategy; this slide covers the market analysis process for competitor assessment. The further steps involved are:
- Determine and classify our top competitors
- Examine the competitive environment
- Analyse our competitor’s strengths and weaknesses, as well as the threats and opportunities
- Examine our competitors' market positioning
- Finally, compare the items and pricing of competitors
After 2nd second, the following slide talks about Step 3-SWOT analysis for the company’s product asses; this slide covers the SWOT assessment process for product analysis.
Now the next slide under this category talks about Step 4-Identify the best communications channels; this slide covers the various channels for communicating a new positioning strategy. It includes channels such as
- social media
- email marketing
- web content.
The following slide talks about Step 5-Creating an effective product positioning statement; this slide covers the importance and critical areas of the product positioning statement. Critical vital components of the statement include target market, customer needs, brand name, product benefits, unique differentiator, etc.
# Positioning Statement
Before heading to details of the product positioning statement, there’s a slide we have added to give insight into What is a product positioning statement? A brand positioning statement is how a company ensures that its marketing activities are consistent with its core values. This slide includes statement details such as solely for employees, not visible to clients, extensive research, etc.
The following slide we added for Understanding the Brand Ladder for building an effective positioning statement covers the role of the brand ladder in developing a product positioning strategy. A brand ladder is a marketing technique that marketers use to explain the benefits of a brand to the final customer.
The following slide included in this deck is the Positioning Statement Framework for product differentiation; it includes various components such as target, brand, category, point of difference, end benefit, a reason to believe, etc.
Following slide talks about Defining the target audience for creating an effective positioning statement. This slide covers various segments for identifying the target audience positioning statement. It includes various action steps such as analyzing the customer base, conducting market research, analyzing competitors, creating a buyer persona, etc.
We are all doing these to attract significant customers to the company, so their satisfaction is of utmost importance. So next that is included in the deck is to Describe the customer end benefit in the positioning statement; an end benefit is an advantage a consumer gets from a product State.
The following slide includes Guidelines for building effective positioning statements; this covers various recommendations for developing a positioning statement. It includes action steps such as being suitable to the target market, presenting a clear brand picture, being the exclusive holder of this particular market position, etc.
# Positioning Strategy for Product Differentiation Used by Brands
In this deck, we have discussed the positioning strategies for various brands to provide an outlook to the audience.
We initiated the slide by talking about Coca-Cola’s market positioning statement and strategy; This slide covers Coca-Cola’s brand positioning statement. It also includes positioning strategy details such as the world’s soft drink market, brand principles, adapts to local needs, the same image all around the world, etc.
We have mentioned the positioning statement of Coca-Cola, and then below that, we have mentioned the positioning strategy used by Coca-Cola. This slide aims to draw the audience’s attention to the real-life example and gain a different outlook.
Coca-Cola’s mind map for understanding the company’s marketing approach slide has also been discussed; this slide covers a perpetual road map for the Coca-Cola brand. It includes various components of the map, such as market segmentation, targeting, positioning, etc.
In this deck, we have talked about other brands like Starbucks, Nike, and Apple with their mind map.
# Perceptual Brand Positioning Map
Moreover in this deck, we have briefly introduced this topic; the slide covers a perpetual map of competitive products. It includes critical insights such as perceived similarities by consumers, search for regions free of competition, etc.
We have included a slide that covers a perpetual map for positioning based on points and clustered and also included a slide of competing products with ideal vectors.
Conclusion
Utilizing this well-research complete deck, you can systematically think, plan and execute your strategy to achieve an effective positioning strategy for product differentiation. So, download this readily-designed set and get ready to implement this strategy in your business for product differentiation to grab a significant market share.
Download the free Positioning Strategy for Product Differentiation PDF.
