Course table of contents
1. The Role of the Product Manager and the Framework
2. Market segmentation and competitive analysis
3. Custom personas
4. Testing hypotheses
5. Product positioning <- You are here
– To be continued
In past posts, we’ve talked about how to understand your customers using so-called user personas and how to test hypotheses about your product’s development. But if you have already done work on the formation of persons with potential and existing customers and already understand for whom the product is being developed and what it should be, the question arises: “How to position it correctly?”
You can approach this task in different ways, but in most cases, a fairly easy and versatile positioning method is suitable. To do this, it is enough to use the “formula”, which includes three variables:
1. What problem does the product solve?
2. For which segment is it created and are people willing to pay for it?
3. Why is the product better than the solutions of competitors in the selected segment?
The answers to these questions allow you to find the correct positioning. You can use the following example for product positioning as a template – just insert your words!
By the way, this is exactly how Apple positions its products: “The iPod is a universal digital player, it was created for everyone who wants to listen to the existing music, it can store 10,000 songs, and it is easier and more convenient to do it than other players offer”.
How to position your brand?
Brand positioning is not the same as product positioning. But in today’s market conditions, brand positioning is equally important, because every product manufacturer wants to reach out to all possible customers. This means that the company should be recognized.
We live in a time when most physical goods are produced in China and distribution is global. Quality alone will no longer win the market, at least because people don’t know about good quality until they buy your product. The task of brand positioning is to share its values with the consumer, to remain in the hearts of a certain category of customers. And it is highly desirable that this is your target audience.