LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on common mistakes to avoid in your product positioning strategy. This article highlights some common mistakes that companies make in the product positioning strategy and also provides insights on how to avoid them.
One of the critical mistakes made by even some of the best marketers while formulating their product positioning strategy is that they presume positioning to be primarily driven by promotions. However, building a good positioning strategy has to do with more than merely undertaking rapid promotions for the product or the brand.
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What are the common product positioning mistakes that brands make
Diversifying products in unrelated markets
Brands must keep the target audience in mind when they introduce a new product and ensure that the product is related to what customers associate your brand with. Furthermore, the brand must position their products in such a way that the customers trust them to offer best-in-class products.
Effective product positioning ensures that marketing messages resonate with target consumers and compel them to take action. Request a free proposal to know how we can help you formulate an effective product positioning strategy.
Product launch when the market is not ready
Introducing a poorly positioned product before a market is ready for it could be a grave mistake for brands. Apple’s Newton PDA that hit the markets in the early 90s is a classic example of this. This was a period when people were not even accustomed to mobile phones and Filofax diary and business cards were the key tools used for time management and networking. Introducing a product that would not solve any major challenge or meet the needs of customers will ultimately fail.
Ineffective communication of the use cases
It is essential for businesses to convince customers on why they should buy the product and what are the use cases that the product would serve. Apart from a strong product positioning strategy, it is also essential for businesses to have a clear competitive positioning strategy in place. This will help brands to gain a winning edge when compared to their counterparts in the market.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us