market-positioning-strategy

Vocabulary Word

Definition

A 'market positioning strategy' is a brand's plan to set itself apart from competitors and become the preferred choice for its customers in the marketplace. It's like figuring out how to make your product or service different and better than the others.

Examples in Different Contexts

In competitive strategy, 'market positioning strategy' involves choosing a market position that gives a company a competitive edge. A competitive strategist might discuss, 'Our positioning strategy is to be the most cost-effective provider in the market, which we believe will secure our competitive advantage.'

Practice Scenarios

Branding

Scenario:

We need to change public perception of our brand. We should aim for something more premium and exclusive.

Response:

I agree. We could develop a market positioning strategy that emphasizes our commitment to quality and craftsmanship.

Product

Scenario:

With our newest update, we have greatly improved speed and efficiency. How can we leverage this in the market?

Response:

Speed and efficiency are pretty important for users. They could be central to our market positioning strategy.