A great concept that is being overlooked in marketing these days is a concept called “Positioning.” Positioning is the first thought that comes to mind when you think of a certain product/entity and owns that #1 position. Advertising dollars can all go to waste if they are not built on positioning. Many have!
As marketers we have to get into the consumer’s mind, stay there and build our equity. Not easy to do! But without it we are not going to survive. (or at least stay on top for long). What’s that word (or thought) that comes to mind when consumers think of your product?
Some examples of great product positions:
Volvo – Safety
Starbucks – Premium Coffee
Wal-Mart – Low Prices
Red Bull – Energy Drink
BMW – Ultimate Driving Machine
Amazon – Books
Grey Goose – Premium Vodka
Are you comfortable with your position? What is it?