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Phase-1
Perform Quantitative Market Research
Define
Market Size
Competitive positioning is about defining how you’ll differentiate your offering and create value for your market. It’s about carving out a spot in the competitive landscape and focusing your company/product/service to deliver on that strategy. Your ultimate goal is to win mindshare in the market — to be known as a “certain something” in the market’s mind.
Outline Market Characteristics
After you’ve defined your market size, begin outlining your market’s characteristics. For this task we highly recommended that you have at least one person involved who intimately knows your market and customers. You’ll want to describe what’s currently happening in your market and the influences on the market.
Select
Positioning Approach
It’s important to understand the lifecycle stage of your market. The market’s maturity impacts how you should approach your market and position your company/product/service against your competitors. Reference the market data and market characteristics to help determine the lifecycle stage if it’s not apparent.
Phase-2
Perform Qualitative Market Research
Qualitative market research will help us understand the behaviors, attitudes and decision-making processes of customers and prospects in our markets. These are the psychographics of our market. By understanding how our customers and prospects think – knowing what their true problems are, how they attempt to solve them and how we fit into their solution – we’ll better understand how to fulfill their needs and market to them. This understanding will also help us define market segments or personas – the distinct subgroups of our market – that will allow us to more efficiently market to each group.
Understand
Market Pains
How well do you really know your customers and your target market? Your goal is to understand how your prospects & customers think. What are their true problems, and how do they attempt to solve them?
There are many ways to accomplish this. Your approach is probably dependent upon your current market intelligence, your available resources and your urgency for creating a competitive positioning and brand strategy.
Defining
Market Segments
When you segment your market or create buyer personas, you can do a better job addressing the specific problems faced by the people/companies/prospects within each segment. And when you speak to specific problems and needs, you can greatly improve all of your sales and marketing efforts.
Stage-2
Perform Qualitative
Market Research
Qualitative market research will help you understand the behaviors, attitudes, and decision-making processes of customers and prospects in your markets. These are the psychographics of your market. By understanding how your customers and prospects think – knowing what their true problems are, how they attempt to solve them and how you fit into their solution – you’ll better understand how to fulfill their needs and market to them.
Action-7
Figure out the Current Market Characteristics
What are the characteristics of your market? Is it growing, stable or contracting? Are prospects actively seeking out your product/service? Do they have a known pain but not yet realize that your product/service will alleviate that pain?
Action-8
Figure out the Current
Influences on Market
What's currently influencing your market? Are there any new developments affecting it, such as legislation, social trends or new technological breakthroughs that are creating urgency?
Action-9
Figure out the Decision
Maker + Influencer
Who makes the ultimate decision to buy from you? B2B marketers often have to deal with multiple decision-makers or a team of decision-makers and a number of influencers. This affects their overall marketing and sales strategy, as they often have to deliver different messages to different people within a company.
It's typically clearer for consumer marketers, as the person using the product/service is often the decision-maker. However, many big-ticket items, such as cars, furniture, and appliances, may have multiple decision-makers.
Who else is involved in the buying decisions (the "influencers")?
Action-10
Figure out the Knowledge of Pain
Is your market actively seeking a solution to this problem? In B2B, for most companies, there is a mix of people actively seeking a solution, people wanting a solution if one were to be presented to them (but they're not actively seeking one), and people who have the pain (whether they've realized it or not). B2C is similar. For example, for cold medicine, the buyers have pain (a cold) and are actively seeking a solution. For a teeth whitener, many people in the market might not be actively seeking the product but might be interested if it was affordable, easy, and effective. People with stained teeth, who have no interest in breaching them, would have pain, but wouldn't desire a solution. People with naturally white teeth would have no pain.
These scenarios affect the marketing strategy and ultimate positioning, as markets with a high number of prospects actively seeking a solution require different activities than does a market with a large number of prospects who have latent or unknown pain.
Estimate the percentages of each scenario. If you don't know, start with a guess, and refine it as you are able. All four combined should total 100%.
1) Percentage Mix of People/Companies Actively Seeking a Solution in the Market:
2) Percentage Mix of People/Companies Desiring a Solution in the Market:
3) Percentage Mix of People/Companies with a Pain but Not Desiring a Solution in the Market:
4) Percentage Mix of People/Companies with No Pain in the Market
Action-11
Figure out the Market Trends
Finally, what are the trends in your industry and/or market? Trends are important because they can translate into new opportunities. For example, is the industry shifting toward a new type of solution? A current popular trend is "green" products. Many consumers are willing to pay more for a product that they believe is friendly to the environment. You may have already listed your trends above under "Characteristics or Influences," which is fine, but it's possible that all three -- characteristics, influences and trends -- could be different.
Step-3
Select Positioning Approach
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-13
Determine the Lifecycle Stage
(per product / market)
Action-14
Select Positioning Approach
(per product / market)
Step-4
Understand Market Pains
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-15
Select Market Research Method
Action-16
Define Market Research Sample Size
Action-17
Examine Sample Responses
Action-18
Analyse Market Research
Step-5
Define Market Segments/Personas
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-19
Evaluate Issue/Challenge and Companies/People that Fall into Category
Action-20
Determine Segmentation Criteria
Action-21
Define your customer segments
Action-22
Profile your customer segments
Step-6
Research Competition
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-23
List your top five direct competitors
Action-24
List your top five indirect competitors
Action-25
List your top five future competitors
Action-26
Create a final competitor list
Step-7
Evaluate Competition
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-27
Determine the comparison criteria to use
Action-28
Rate competitors and yourself based on the criteria
Action-29
Evaluate your ratings
Action-30
Synthesise into a SWOT Analysis: Strengths: What We Do Well
Action-31
Synthesise into a SWOT Analysis: Weaknesses: What We Do Poorly
Action-32
Synthesise into a SWOT Analysis: Opportunities: Available Potential
Action-33
Synthesise into a SWOT Analysis: Threats: Obstacles in Our Path
Step-8
Define Value Proposition
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-34
Select Primary Value Proposition
Action-35
Select Secondary Value Proposition
Action-36
Understand the Value Propositions of your Competitors in the Marketplace
Action-37
Rate Competitors Ability to Deliver upon each of these Value Propositions
Action-38
Analyse Problems our Competitors Are Solving Effectively
Action-39
Analyse Problems our Competitors Aren't Solving Effectively
Action-40
Rethink Opportunities
Action-41
Readjust Value Proposition
Step-9
Create Competitive Positioning Matrix
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-42
Create a Competitive Positioning Matrix for Market One
Action-43
Create a Competitive Positioning Matrix for Market Two
Action-44
Create a Competitive Positioning Matrix for Market Three
Action-45
Create a Competitive Positioning Matrix for Market Four
Step-10
Define Competitive Positioning & Strategy
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-46
Decide ≪Market Mindshare≫ competitors currently own
Action-47
Decide ≪Market Mindshare≫ would you like to own
Action-48
Define Long-Term Mindshare Goal
Action-49
Write Long-Term Competitive Positioning Strategy
Step-11
Determine the Basics for the Foundation of Your Brand
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-50
Choose Brand Type to Use
Action-51
Confirm Primary Value Proposition
Action-52
Confirm Secondary Value Proposition
Action-53
Identify Brand Themes to Explore
Step-12
Explore Brand Emotional Benefits
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-54
List the Features and Benefits of your product/service
Action-55
Determine whether each Benefit is Functional or Emotional
Action-56
Explore the Emotional Benefits of your Brand
Action-57
Determine how Important each Feature and Benefit is to your Customers
Step-13
Select Brand Pillars
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-58
Rate your Features and Benefits
Action-59
Evaluate Rated Features and Benefits
Action-60
Choose a Single "level of importance" for each Feature and Benefit type
Action-61
Determine Features and Benefits that connect most strongly with your market's emotions
Action-62
Test Your Brand Pillars
Step-14
Determine Brand Means
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-63
Brainstorm Brand Means
Action-64
Review Brand Pillars
Action-65
Evaluate Potential Brand Means
Action-66
Choose Top Three Brand Means
Step-15
Select Brand Personality Traits
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-67
Define the High-Level Personality Category for Your Brand
Action-68
Identify Five Brand Values that Describe the Way You Want the Market to View Your Brand
Action-69
Identify Five Brand Strengths that Describe the Way You Want the Market to View Your Brand
Action-70
Identify Five Brand Unique Attributes that Describe the Way You Want the Market to View Your Brand
Action-71
Identify Fourth Human Trait that Describe the Way You Want the Market to View Your Brand
Step-16
Determine Brand Promise
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-72
Determine your Brand Promise
Action-73
Determine your Brand Vision
Action-74
Determine your Brand Archetype
Action-75
Determine the Brand Promise for your Top 5 Competitors
Action-76
Review the Competitors'Promises
Action-77
Rank the Most Valuable Promises to the Market
Step-17
Create Brand Positioning Statement
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-79
Wordsmith 25-Word Brand Positioning Statement
Action-80
Define 25-Word Brand Positioning Statement Evaluation Criteria
Action-81
Evaluate your 25-Word Brand Positioning Statement by Criteria
Action-82
Finalise your 25-Word Brand Positioning Statement
Step-18
Write Brand Story
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-83
Brainstorm the Credibility, Differentiation, Purpose, Intrigue and personality
Action-84
Record Brand Story Ideas
Action-85
Evaluate Brand Story Ideas
Action-86
Craft your compelling story that will endure for five to ten years
Step-19
Select Brand Name
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-87
Brainstorm a Brand Name to Use
Action-88
Evaluate a Brand Name to Use
Action-89
Confirm a Brand Name to Use
Action-90
Copyright your Brand Name
Step-20
Evaluate Visual Branding
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-90
Evaluate the Relevance are your Brand Visuals (to your Brand Strategy and Promise)
Action-91
Evaluate the Quality of your Brand Visuals
Action-92
Evaluate the Consistency of your Brand Visuals
Action-93
Evaluate the Identity Needs
Action-94
Write Identity Style Guide
Action-95
Evaluate the Print & Digital Needs
Action-96
Write Print & Digital Style Guide
Action-97
Evaluate Marketing Campaign Needs
Action-98
Write Marketing Campaigns Style Guide
Action-99
Evaluate Retail Location Needs
Action-100
Write Retail Location Style Guide
Action-101
Evaluate Employee Location Needs
Action-102
Write Employee Location Style Guide
Step-21
Design a Brand Visual identity
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-103
Choose Brand Colour Palette
Action-104
Choose Brand Typography Set
Action-105
Discover a Brand Symbol
Action-106
Design a Brand Logo
Action-107
Set-up Marketing Digital Asset Management Service
Step-22
Define Brand Operational Requirements
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-108
List all inbound "Touch Points" with your market
Action-109
Determine if a given "Touch Point" Supports your Brand and Brand Promise
Action-110
Explain Operational Touch Point and an Improvement to Implemented
Action-111
Summarise all Touch Points into Succinct Operational Branding Requirements
Step-23
Determine If a New Distribution Channel Is Right for You
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-112
Define what are the most important goals for you?
Action-113
Understand the potential positives to creating a new channel
Action-114
Understand the potential downsides to creating a new channel
Action-115
Decide to pursue a new distribution channel or not?
Step-24
Evaluate an Existing Distribution Channel
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-116
Name your Existing Channel
Action-117
Describe your Existing Channel
Action-118
Identify an Existing Distribution Channel Areas that are Working Well
Action-118
Identify an Existing Distribution Channel Areas Needing Improvement
Action-119
Decide to improve an Existing Distribution Channel or not
Step-25
Establish Distribution Goals
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-121
Define What your End-Users Need and How you Would Expect a Channel to Work
Action-122
Record Important Elements to Address in a Potential New Distribution Channel
Action-123
Determine your Distribution Channel Goals (start high)
Step-26
Select Channel Type
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-124
Study Distribution Channel Types
Action-125
Evaluate selected Distribution Channel Types
Action-126
List Examples in your Industry of Chosen Types
Action-127
Consider Vertical vs Horizontal Distribution Strategy
Step-27
Project Channel Revenue
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-128
Project the Revenue the Channel Could Potentially Generate
Action-129
Estimate the Number of Channel Partners in months 1-3, 4-6, 7-9, 10-12
Action-130
Estimate an Average per-unit Revenue when Selling to an Average Channel Partner
Action-131
Estimate the number of Units an Average Channel Partner Could Sell per Month
Step-28
Design Channel
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-132
Name Distribution Channel to Create
Action-133
Define Distribution Channel Purpose
Action-134
Map the Steps Involved in Reaching your End-User
Action-135
Outline Potential Channel Structure
Action-136
Analyse Channel Logistics
Step-29
Find Channel Partners
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-137
Choose a Channel Type to Target
Action-138
Figure out Channel Partners Key Criteria
Action-139
Describe Your Ideal Channel Partner
Action-140
Research Channel Partner
Action-141
Prepare Sales Pitch
Step-30
Create Channel Partner Management Plan
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-142
Determine your Channel Manager
Action-143
Outline your Channel Risks
Action-144
Address each Area Requiring Management
Action-145
Outline your Channel Requirements
Action-146
List your Requirements for each Channel Management Area
Step-31
Minimise Channel Pricing Conflict
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-147
Choose Channel Market Penetration Method
Action-148
Outline Potential Challenges to Your Distribution Channel
Action-149
Outline Potential Solutions to Your Distribution Channel
Step-32
Determine Channel Markups
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-150
Evaluate the Market and Your Competitors' Prices
Action-151
Determine Your Price Floor
Action-152
Determine Price Markups at Each Step
Step-33
Set Channel Pricing
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-153
Finalise Your Inputs
Action-154
Analyse Cost of Goods Data
Action-155
Analyse Desired Profit Margin
Action-156
Define Suggested Channel Price
Step-34
Define Customers' Buying Process
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-157
Calculate the Number of Distribution Channels
Action-158
Estimate Total Number of Sales Processes Needed
Action-159
Define Prospect Buying Process (Identify Individual Steps)
Action-160
Define Information to Convey (at each step)
Action-161
Define Length of Time to Complete (at each step)
Step-35
Determine Sales Tools & Literature to Deliver at Each Step
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-162
Analyse Available Tools to Support Each Step of Your Sales Process
Action-163
Identify a Tool your Prospect Needs to Move to the Next Step
Step-36
Select Sales Process Measurement Criteria
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-164
Outline Your Sales Process Based on How Your Prospects Prefer to Purchase
Action-165
Decide How to Measure Prospects Progress Through the Sales Process
Action-166
Define Measurement Criteria as Reporting Requirements
Action-167
Implement Reporting Requirements in Your CRM System
Step-37
Select Sales Process Conversion Criteria
Now it’s time to put everything together to determine your high-level approach to positioning yourself in the market. Review the characteristics of your lifecycle stage and the typical positioning approach for each below. You may decide that the typical positioning approach is right for you, or you may wish to modify it.
Action-168
Estimate the Percentage of Prospects Moving though Steps
Action-169
Translate Data Into your Revenue Goals
Action-170
Determine Number of Prospects Needed in Each Phase
Action-171
Calculate your Conversion Ratio
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