|
|
|
 |
Putting You and Your Company in Position to Own Your Market
Americans have always liked their coffee hot. But then Starbucks
made hot coffee desirable, in demand, and extraordinarily
profitable. And then Starbucks made coffee "cool" with its
super-popular iced Frappucino drink -- just as trendy,
fashionable, and universally appealing.
When you are assessing your own position and considering how you might improve your image and thus your market share, remember that there are essentially four winning positions: better, different, faster, or cheaper. You can certainly position yourself as one of these, perhaps even two; capturing a position as three of them is tough and probably not desirable, and cornering all four is just about impossible. Not everyone is up to the task of creating another Starbucks. It's tempting, with price wars so rampant, to believe that a perception of being cheapest is easiest to establish. Yet in truth this is the most difficult because of fixed costs. It's like doing the limbo: you can go only so low, and then you're overextended or flat on your back. Definitely not the easiest position to be in. How about being better instead? Contrary to popular belief, this is perhaps the easiest position to take, since making an improvement or simply creating the impression of greater quality or ability has no constraints. One tip: when you capture the different category, you may get the better category as a by-product. Starbucks capitalized on this technique, as did Dennis Rodman, the oddball of basketball. He came up with a way to take two positions in fans' eyes: both different and better. Okay, maybe he wasn't actually better than his teammate Michael Jordan, who was unbeatable, but certainly he was perceived for a time as better (cooler, trendier) among those who were captivated by his style. His fashion and fascinating antics made him so unique that he became unforgettable. And because he was also an excellent ball handler, he became famous and highly regarded in his sport. BMW has also taken the better-different approach. Until fairly recently, Mercedes-Benz had the better luxury car market sewn up, so BMW -- a competitor with a parity product -- simply repositioned itself. Its tag, "the ultimate driving machine," appeals to a younger crowd and gives them luxury with power and handling. This is "hip luxury," which is different from the Mercedes position, which could be summed up as "elegant luxury." And voilà: BMW became as hot and desirable as a cappucino on a wintry morning. BMW marketers had both a strong sense of the position they wanted to hold and precisely defined their premium clients, the créme de la créme within their target market. You can do this, too. Once you've figured out what position you can successfully gain in your business, ask yourself the following.
Positioning is like popularity: You have to be seen in the right places and with the right people. This is more than social climbing: You learn more about your clients and they learn more about you when you frequent the same places, attend the same functions, join the same associations, be published in their periodicals, and develop products and services specifically for them. Positioning is as much about who you are not as it is about who you are. Starbucks is not a cheaper and faster cuppa joe; it is an upscale, gourmet coffee experience. BMW is no old-style luxury; it is stylish performance. Dennis Rodman is no gentleman forward; he is the outrageous, extreme athlete who is a recognized celebrity even for people who don't know basketball from billiards. Do you want to win big? If so, have the courage to answer these questions clearly and define your own game: Who are you? Who are you not? Who are your clients? These are the essential decisions you must make if you want to not only understand but own your market. James Arthur Ray of James Ray International is an expert in
teaching individuals how to achieve Harmonic Wealth? in
all areas of their life by focusing on what they want, opposed
to what they don't want. He has been speaking to individuals as
well as Fortune 500 companies for over 20 years and is the
author of four books and an inventor of numerous learning
systems. His studies of highly successful people prove that they
continually achieve results by taking control of their thoughts
and actions to create and shape their own reality.
MORE RESOURCES: |
|
|
|
RELATED ARTICLES
Your Business Logo and Color Scheme My business logo and color scheme started one lovely spring day in my office, after two years of working with words and images. I purchased some rubber stamps and played with them. Brand Boring or Brand Buzz? I heard an advertisement on the radio the other day that surprised me, not because they were saying anything noteworthy, but because it was so banal. It was a national company's ad. Too Dull? Too Sharp? You work hard getting the right cover message and words for your brochure. Now, you want to give it a look, an image. Living Your Brand on the Web - Part 2 Now that everyone has conformed to Living Your Brand on the Web, Part 1, it's time to add a couple of tweaks that will further reinforce your brand.Tweak #1: Your Signature FileA signature file is the simple text that, once activated is attached to your email automatically. Do What Works "Can you hear me now?"You'd be hard pressed to find someone in the US who doesn't know the company behind that question.So why do big companies, like Verizon, hammer us with the same message over and over? Because it works. Branding: You are the Brand What's in a brand name? Everything! Think of these brands: Coke, Barbie, Hershey, McDonalds, Madonna, Pepsi, Bono, Microsoft, Kleenex, Xerox, Steven Spielberg, Dell and GM. Did you notice that brands can be things, replicas of people and actual people? Brands are the public perception of a thing or person. Brand Identity and Brand Image - Brand Identity Guru It is important to distinguish between corporate identity, brand identity, and brand image. Corporate identity is concerned with the visual aspects of a company's presence. Build Brand Value BIG Time Ask your self this question, In which business are we really in? And stay far from the dark world of commodities.. Nike / Sears / Kmart The Sears-Kmart merger hopes to fabricate some sort of silver lining for both retailers but instead seems to embody the inevitable philosophy of "going down together." Kmart, an already sinking ship, certainly worsens conditions for Sears, and Sears does not have a strong enough current to keep Kmart afloat when there are enterprises like Wal*Mart and Target constantly blasting holes in the stern with brand messages of "smart and classy. Business Case Study Automotive Detailing Franchise Company How do automotive detailing companies start? What makes them work and how do they grow? How do they choose which services they will offer? This is an interesting case study about a test market of a franchise company in the cleaning business and how they went about setting up Auto Detailing Shops. It maybe of interest to your business study and research; I am familiar with this story because it is one of the companies that I founded. Hummer is an Excellent Brand What size is your Hummer? Hummers Come in All Sizes; Tiny, small, medium and large and of course the most popular of all; The Oh My God Size. They make matchbox size Hummers, Tonka Toy size and adult size. How a Great Tagline can Help your Business "Just do it." "We try harder. Branding: What Not to Do Here's a little story about what not to do as you carve out a name for yourself in the world of internet business.Don't use a miscellaneous email account as your primary web contact address. Your Small Business Name -- Important? You bet a name is important. Many small business owners try to come up with a clever name for their business rather than one that explains what they do. Branding: Bring Back the Jingle! Did you grow up in the '70s and '80s? If so, you probably have a slew of campy jingles from various TV commercials filed away in your brain. Today, advertisers still use jingles to help identify their brand, but not nearly as much as they did "back in the day. Adventures in Advertising and the Affect on the Brand Name Studying various target-marketing techniques and here is a thought. We have been reviewing companies who cross over into many sectors to identify with their potential customers. Hiring the Right Graphic Designer for Your Small Business Every small business needs it, but not many have it. I am not talking about cash flow, clients or even your product or services to sell. Trademark Issues in the Mobil Auto Business There have always been trademark issues and lawsuits in the mobile auto service business. I know this because I own several such businesses. Naming Names... How to Name your Business Sometimes the best inspiration comes from hearing about the deconstruction of other company's names. For you, I am happy to share how I came up with "Slice A Day :: your slice on marketing". A good logo vs. a FABULOUS logo If you had a choice, which one would you choose, a good logo or a fabulous logo? Think about it for a second here, although I know the answer is crystal clear. Because many of us settle for a good logo created by a credible logo designer just because he or she is a credible logo designer who charges low prices.
|
| home | site map |
| © 2006 |