Part 3/6:
Rasmussen outlines two main styles of market positioning:
Position as a Benefit or Novelty: Highlighting how your product benefits the consumer or features something new.
Repositioning the Market: Challenging the status quo by reframing existing perceptions. An historic example is Schlitz beer in the early 1900s, which repositioned itself by claiming, "We steam-clean our bottles."
This reframing didn’t invent a new process but cleverly highlighted an existing feature to differentiate itself from competitors, leading to increased sales.
Practical Steps to Effective Positioning
Rasmussen offers a three-step process for developing your positioning statement:
- List Features and Benefits: Identify what your product does and how it benefits customers.