Positioning strategy

[danval]

Hi everyone.
Im trying to develop this area of marketing for my company. Im not really experienced or have ever attempt this.
Im on the process of deciding what is the best strategy and way to do it. Im talking about positioning my company in the "eyes of the public"

I'm starting with "race car fabrication" and apparel for the same theme. (racing apparel). My budget is very short and that is one of the reasons why im asking you guys for help on some ideas on positioning without spending fortunes on advertising.
I sell services as well as products, but service is my main source of business.
Any advise on the topic would be gold for me. Thanks a lot in advance

[Dave Ingram]

Hello,

The main thing to remember with brand positioning is that every single message you send out to customers has to be in line with the image you are trying to create. I mean everything, from pricing, to advertising, to customer service, to packaging, to public relations, to the layout of your stores.

First, determine exactly what image you would like to create for your brand. Start by thoroughly defining your target market in terms of demographics, psychographics, behavioristics and geographic considerations. Next, analyze all of your existing competitors who are serving your chosen target market. Look for gaps in the market, or niches that none of your competitors are filling.

As an example, let's say you define your target market as males aged 18-35 (demographics), who see themselves as aspiring, self-made racers (psychographics), make purchases based on popular brands seen in movies and magazines (behavioristics), and live within a fifty-mile radius of your store (geographics). To position your brand in such a way as to attract this target market, you could, for example, stock all of the top name brands, hire a hip designer to create a hip logo for your company and design your retail spaces to appeal to younger patrons, play rocking music in your stores, host car shows and burnout competitions for imports and other car-types young guys favor--the list goes on.

Advertising does play into positioning quite a bit, but the heart and soul of positioning, especially for service businesses, is to give customers a holistic experience that appeals to them on a personal level, with which they can identify and for which they will happily spread word-of-mouth advertising to others in your target market.

I hope this helps!

[danval]

Hello,

The main thing to remember with brand positioning is that every single message you send out to customers has to be in line with the image you are trying to create. I mean everything, from pricing, to advertising, to customer service, to packaging, to public relations, to the layout of your stores.

First, determine exactly what image you would like to create for your brand. Start by thoroughly defining your target market in terms of demographics, psychographics, behavioristics and geographic considerations. Next, analyze all of your existing competitors who are serving your chosen target market. Look for gaps in the market, or niches that none of your competitors are filling.

As an example, let's say you define your target market as males aged 18-35 (demographics), who see themselves as aspiring, self-made racers (psychographics), make purchases based on popular brands seen in movies and magazines (behavioristics), and live within a fifty-mile radius of your store (geographics). To position your brand in such a way as to attract this target market, you could, for example, stock all of the top name brands, hire a hip designer to create a hip logo for your company and design your retail spaces to appeal to younger patrons, play rocking music in your stores, host car shows and burnout competitions for imports and other car-types young guys favor--the list goes on.

Advertising does play into positioning quite a bit, but the heart and soul of positioning, especially for service businesses, is to give customers a holistic experience that appeals to them on a personal level, with which they can identify and for which they will happily spread word-of-mouth advertising to others in your target market.

I hope this helps!

Dave, thanks for the great reply!
its great info!
i believe that my biggest problem when going after my target market is leaving somebody out the picture. The thing with the services that i offer vary from young guys (as the ones you described) with their offroad trucks, to older guys with their drag race cars. My dilemma (if called like that) is that if i advertise or create one image, i will be leaving out the other type of customers that im trying to attract as well. Or that i do work for as well.
On my apparel (starting with the product) is a little bit easier, because it is definitely aimed to a younger audience who is into racing and the similar lifestyle. But again, when it comes to observing or studying this target markets, what should i look for? i just dont want to copy other ideas out there.

[Dave Ingram]

Hi again,

I wanted to get back to you earlier, but things have been a bit hectic over here. You can select a target market that's as narrow or as wide as you would like. If you're serving more than just a single niche, like I described, then loosen up the definition of your target market a bit to include (almost) everyone who comes in your store.

When you're thinking about the kind of brand image that appeals to a wider target market, you have to think beyond issues of subculture to what really matters to consumers at the point of sale. Perhaps you can establish an image as the store who stocks all of the most popular, premium priced products. Or maybe you can establish an image as a store that specializes in American made parts (or imported parts). Maybe you're the store with better prices than everyone else who sells the same products. Here's a wildcard--maybe you could be the store that publishes a quarterly online newsletter informing racing enthusiasts of upcoming events and product innovations (while filling the newsletter with your own marketing).

I assume you are a racing enthusiast yourself. Ask yourself, what have been the most important things in a racing gear store, to you and your fellow racers, for as long as you've been into the sport? Create an image as the store that does whatever that is better than anyone else.

I hope this helps!

[danval]

Hi again,

I wanted to get back to you earlier, but things have been a bit hectic over here. You can select a target market that's as narrow or as wide as you would like. If you're serving more than just a single niche, like I described, then loosen up the definition of your target market a bit to include (almost) everyone who comes in your store.

When you're thinking about the kind of brand image that appeals to a wider target market, you have to think beyond issues of subculture to what really matters to consumers at the point of sale. Perhaps you can establish an image as the store who stocks all of the most popular, premium priced products. Or maybe you can establish an image as a store that specializes in American made parts (or imported parts). Maybe you're the store with better prices than everyone else who sells the same products. Here's a wildcard--maybe you could be the store that publishes a quarterly online newsletter informing racing enthusiasts of upcoming events and product innovations (while filling the newsletter with your own marketing).

I assume you are a racing enthusiast yourself. Ask yourself, what have been the most important things in a racing gear store, to you and your fellow racers, for as long as you've been into the sport? Create an image as the store that does whatever that is better than anyone else.

I hope this helps!

Dave, its extremely useful for me. It is always good to hear other people's opinions. Specially if they come from a person with excellent knowledge. I think i'm drowning in a cup of water, but you are expanding the options and im getting a different perspective. Thank you very much and hope to read more posts from u on the forum!
Take care!