13 Jan Part II: Getting Pole Position
It is difficult to imagine how many start-ups fail by simply overlooking the basics. Months spent on perfecting the product details, having a bright image of the ideal consumer, who, honestly speaking, resembles themselves a lot. They fall in love with their product just because it seems impossible not to.
The launch goes unnoticed. Investors bow out. Cue the blame game. What went wrong? “We just couldn’t compete with the big players in the industry.”
They failed simply because positioning was completely ignored as something belonging to the later stages of expansion. But we can’t forget that the market is a jungle and winning a place in peoples’ hearts and minds is a battle. You wouldn’t go somewhere full of unknown dangers without having a map and a plan, would you?
A successful brand can only be built around a bulletproof strategy of what your unique offering to the market is and what you want to be known for. Identifying the market type you’re entering is crucial for everything your company does in order to succeed. Your start-up might be entering a new market, an existing one or trying to disrupt the market by offering a lower buy nolvadex 40mg price or by creating a niche in it. Each of these scenarios has different dangers and opportunities, all of which must be kept in mind when crafting the product and establishing the brand.
Having a positioning strategy helps you clearly define your competitive advantage amongst rivals and what value your product has – right now and in the desired future.
When should it be done? As soon as you have the first prototype, either as an object or a service. Often the positioning strategy significantly influences the process of product development. Because when you understand your target audience better, you can offer them just what they need at the right place, at the right time, at the right price – giving you an advantage that you otherwise wouldn’t have. Launching a new product demands many resources, and if you don’t want to waste your time and efforts, do things properly from the beginning.
By having a great positioning strategy, you will obtain the right words and the effective tools to claim your territory in the market from the start and that precious share in the mind of your consumers that leads to becoming a true brand.