Every communications program — whether targeted at social media, customers, employees, the press or analysts — needs to be clear on the fundamentals of positioning and messaging. That’s what my next few posts are covering.
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Just as the terms “mission” and “vision” can be confused with one another, the same is true for “market strategy” and “market position.” Since both are essential parts of the messaging process, it’s important to understand the difference between the two.
What is a Market Strategy?
A market strategy is the approach you take to deliver your product or service to a specific target market. It consists of what are known as the “Four P’s” of marketing: Product, Place, Promotion and Price.
- Product is what you are delivering, a product or service, and must appeal to the needs of a target market.
- Place is the method of getting that product to market, such as the Web, social media, a retail outlet, network sales, or direct sales.
- Promotion is marketing programs aimed at capturing the attention of your target market and encouraging them to make a purchase or participate in your offer.
- Price usually refers to how much it will cost to purchase the product or service, but in some cases, the “price” is the time and actions necessary to participate in the offer (such as filling out a form, filing a claim, etc.).
What is a Market Position?
In contrast, a market position is the perception of your company, product, or service in the minds of prospects in a specific target market. Perception is a combination of facts, beliefs, emotions, and opinions — which means it’s a tricky thing. If you don’t manage it consciously and purposefully, you will leave the perception either in the hands of the marketplace, or worse, in the control of your competitors.
What is Positioning?
Positioning is the art of managing perception, using tried-and-tested tools and processes. The outcome of the positioning process is a market position that takes all the elements of a market strategy and integrates them into an easily articulated, defensible, and differentiated position in your target market. Positioning is a dynamic, living thing, and although the marketer can create a market position for a particular company, product, or service, it will continually need to be revisited and validated as market conditions change.
More about Positioning in my next post.
Before the Brand 