“Every startup deserves growth. And as much as they desire to grow into the “big corporate” statuses, they must strategically position themselves for that growth. They must tailor to the target market, they must be recognizable from their competitors, must be credible and must have more room for growth and not be stagnant” – Harmony Attise
Positioning is a marketing concept introduced by Jack Trout and then later by Al Ries and Jack Trout in their bestselling book Positioning – The Battle for Your Mind. Down to many decades, many definitions have been given by marketing gurus and textbooks.
A few of some definitions are: “Positioning is not what you do to a product. Positioning is what you do to the mind of the prospect”. – Al Ries and Jack Trout in Positioning – The Battle for Your Mind.
Entrepreneur small Business Encyclopedia also described it as: “How you differentiate your product or service from that of your competitors and then determine which market niche to fill”.
Startup positioning is vital and a key to its growth. Many startups do not plan or critically examine their next phase of growth. After giving life to their business ideas, setting up and finally launching out, most startups relax and take their growth gradual. I’m not stating that, startups should rush their growth but accordingly position themselves for the big profits they desire.
They must define their markets, identify their targets, tailor their services or products and properly communicate their brand to prospective customers while waiting on the big contracts for their turnovers. Startups often make the mistake of waiting in their “startup states” to hit big “contract jackpots” and make as much profits as possible without having to strategically prepare for it before they realize they need to position. A startup’s market type dictates early positioning strategy and affects everything the company does.
Positioning therefore is vital!
Let’s define “positioning” to the startup understanding.
“Positioning is how you make a prospective customer perceives your brand (Your Startup), product or service (what your startup does) differently or uniquely from the existing markets. It can also be defined as understanding things (name, brand, products, markets, values etc) from the users/customers perspective” – Harmony.
Customers or consumers are your best critics. They are always right- this dimension makes you think with them in mind. They know exactly what differs from what and what is not, what their problems are and resort to the best solutions companies make available to them. They are highly descending and also understands the markets, hence startups must create a memorable value of what they should perceive of their products or services in their minds.
They also can tell the difference between an entrant that meets their needs from the crowded markets which is a sign that the startup’s needs to be competitively strategic.
To be continued…
Author: Harmony Attise