Positioning

• Positioning in the unique place occupy in the minds of its customers
• In order to create a unique position for its service, the firm must differentiate the services from those to offered by its competitors
• Developing an effective positioning strategy: Target audience, frame of reference, point of difference, and reason to believe
• Target audience - The specific groups of people that the brand wants to sell to and serve
• Frame of reference - the category that the brand is competing in
• Point of difference - the most compelling benefit offered by the brand that stands out from its competition
• Reason to believe - proof that the brand can deliver the benefits that are promised
• Positioning is based on establishing and maintaining a distinctive place in the market for a firms offering
• Essence of positioning:

  A company must establish a position in the minds of its targeted customers

  The position should be singular, providing one simple and consistent message

  The position must set a company apart from its competitors

  Accompany cannot be all things to all people - it must focus it's efforts