Product Marketing: How to Position Your Product in the Market

Launching a new product isn’t easy, find out how to position your product in the market to ensure a successful product marketing campaign.

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Ask the typical businessman what the most challenging phase of his entrepreneurship journey is; he would sit you down and give a detailed explanation of how developing a product is hard and how product positioning or marketing is harder.

Irrespective of your prowess, if you develop a wonderful product and your product marketing strategies are ineffective, you might face a business relapse.

Detailed knowledge of product marketing dictates how well your business will do in the market amidst fierce competition. This is the primary reason you need to do a market survey after determining the solution you want to sell to the public and to see how to present it to the target market.

How To Position Your Product

Understand Why Customers Want The Best Selling Product

There are several options for consumers in the market, so if they are adamant about only a particular product, then you know the product is special. So, you can take the advantage to make a survey by asking questions like, what if the product doesn’t exist? Will you be happy, sad, or unbothered? And why?

If the product doesn’t exist, what product will you use as a substitute?

What primary benefit do you get from the product? 

The first survey question will provide answers to know you are replaceable in case of a lack of professionalism by you or your employees. Customers are king, and they should be respected while maintaining your stance as a business owner and not a fanboy.

The second question will make you know your competitors so you can pay premium attention to their activities and also implement them to improve your products further.

The third survey question will give indirect feedback on why the public wants your products. This will give an insight on how to fix loopholes in your products when you notice them and also attract more customers.

Identify Your Market Your Venturing Into And Your Target Audience

During the early stages of building your product, you already have a glance at what the market is like. The answers you get from the initial survey will help guide you through this stage.

The first question in the survey about if the best selling in the market is not available, will the customers be disappointed. The data of the customers that can’t do without your product will give you a free entry into the market, and you have to focus on them for the time being.

Those set of loyal customers will be your target audience, and you have to focus solely on them to earn their loyalty so they can work indirectly for you. Customers give the best PR; a satisfied customer is an unpaid employee that talks about your products to other potential customers.

Package Your Product

A label or tag makes you stand out from the crowd. Packaging refers to customizing and designing a label or wrapper for your product to make it stand out and serve as a protective layer for the content inside.

When packaging, attention should be paid to how well the customers will relate to the product; use symbols and logos that a layman can easily translate. For instance, a typical custom cannabis packaging and other cannabis product will show leaves as symbols in green or whatever color to avoid misinformation. 

The wrapper should also be designed with the purpose of protecting the content from impurities, sunlight, water, and other things that can spoil it. Also, the wrapper should be pleasing to the customers; a woeful design can drive customers away irrespective of how authentic the product can be. 

Conclusion

What could be harder than presenting the thoughts in your head to the public without receiving backlash and getting rejected? What could be harder than making loyal customers leave their preferred products for your new product? Of course, this might seem like rocket science, but it is not provided you know how to effectively market and position your product in the saturated market. 

A detailed survey of your fierce competitor should be the first step of your journey, followed by recognizing your target market to limit your focus, and lastly, packaging your product to make it irresistible to the customers.