When preparing your positioning strategy and your advertising message, you must ensure that your product or service is ahead of your competition. Therefore, it is important to emphasize the benefits and attributes that make your business different from the rest.
Picture
People will drive long distances passing many stores, malls, butcher shops, restaurants just to reach a specific store that is in line with the vision of a product or service they want.
People want to portray an image of themselves in a certain way that they want others to see them as, and they will jump through hoops to get to that product or service.
Price, product and service will all be considered as factors, although if a person is trying to create a certain image and a salesperson provides that identity, they will definitely lean towards that business.
personality
If a business can produce the right balance of personality, they are more likely to use one business over another. Such as friendliness, after-service care, product knowledge, hospitality, and loyalty benefits. For example, when I visit my local Chinese restaurant, there are three other Chinese restaurants that provide the same standard of food, Little Tokyo restaurant provides all my requirements and makes me feel at home and has a friendly and relaxed atmosphere that has been earned my loyalty.
convenience
In real estate there is only one factor to get rich, the location. But sometimes convenience can be so important, for example, a store that has a nearby parking lot and provides easy access to the store may have an advantage over the competition for this reason alone. For example, sometimes I’d rather go to a small local store than a big box store to purchase an item just because I won’t have to stand in line at the store. I don’t mind paying a few extra cents for this convenience.
Service
In modern times service is simply not delivered as promised, this is where looking back will give you an idea of how well companies treated their customers. If you can’t serve your customers in a timely, attentive and courteous manner, don’t promise this as it will reflect poorly on your business.
Uniqueness
A company must understand that finding a unique selling point must be found as soon as the business plan is written. You need to be able to differentiate yourself from your competition and offer something of value that your competitor doesn’t, for example, a product that your competitors don’t sell. If you have a unique selling point, make sure this message gets across and work overtime to get your customers to recognize this message, so if you’re the only shoe store that doesn’t offer lace-up cross-body sneakers, it would be a good idea to advertise it.
Price
Most companies understand that lowering the price is simply undermining the competition. But be careful when using this method as you may fall into a price trap. If you run your business by underselling your competition, then you need to understand that you need to be consistent to retain customers, which can result in lower profit margins. Although this is a viable way to attract customers, it should not be done alone as it does not make business sense.
