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Step 2 – Positioning Your Small Business
Positioning is all about how people perceive your business and its products or services. It’s about creating an identity in the minds of your target market for the service you provide.
You may decide that you want to position your product or service at the premium end of the market by charging a higher price than your competitors. However, for this strategy to work you need to provide reasons why your prospective customers should be willing to pay more for your goods or services. Are you offering a superior quality product, a better after-sales service or additional added value to the customer that they would not get elsewhere? Find a point of differentiation (which we will come onto next) and you will be able to justify the premium positioning of your product / service in the marketplace.