1) POSITIONING: Good products offer more value for money, and great brands offer a sharper perception of money.
Product positioning: is defined as a form of marketing that presents the feature of the offering, product, service, or venture to its target market in a way that persuades them to engage and interact with it. Marketers can pick tools like market research surveys and focus groups to ascertain the target consumers’ choices. Based on the results, marketers can come up with enhanced marketing techniques.
Price Positioning: As much as quality plays an important role in product success price is an equally important factor that determines the enormity of the success of a particular brand. Why are expensive brands are positioning themselves as unique and niche, the appeal to a very limited segment of customers who can afford to purchase them?
2) PRODUCT SPECIFICATIONS: Winning intra-segment is easy, and winning inter-segment is sustainable.
Intersegment sales refer to revenue generated using a transaction between segments within the same business. It is generally the case with large conglomerates that engage in several lines of business. Such companies manage segments that have to interconnect operations either vertically or horizontally.
3) BRAND STORY & EXPERIENCE: Products are built with many things in a factory, and brands are built with one thing in mind.
When you can tell a compelling brand story, people are naturally captivated. Whether it’s the story of how you built your business or the story of how your product improves people’s lives, finding a unique brand story is one of the most effective ways to entice, engage, and encourage people to build a relationship with your brand.
4) PR AND DRAMATIVITY: You cannot sell, you must supply a reason to buy. Even when a shopper is looking over features and specs, they are experiencing how those facts make them feel about the item. With that being said, if you want to increase your payments, be mindful of these 5 reasons why customers choose to buy so you can use them to your advantage when marketing your products and services.