Managing Business Through Human Psychology - “A Handbook for Entrepreneur” by Ashish Bhagoria - HTML preview

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Positioning the Product in Market

After fixing the price of the product, it is decided how and where to position the product and the brand in the market. Positioning works in two ways, first where to make the product available in the market through various channels and networks and second, is to position the brand in the minds of the customers. Let’s first talk about making the product available in the market. The one thing to be kept in mind while positioning a product or service is the easy availability. Products are made available for the customers at various locations through distribution channels and for most of the services the customers have to visit the service provider. However, in both the cases access for the customer should be easy and effortless. Now, based upon the business the entrepreneur is running, strategy for positioning the product or the service should be made.

Right positioning of the brand ensures acceptability and sales of the product or the service. To market the brand and position it at the right place a strong network with right people is essential. The right positioning will not work if the product is not available. With better positioning, territory of operation can expand and geographical location does not become an obstacle between the customer and the product. Positioning is also done keeping in mind the geographical locations and market segment where our product or service is not available. An important thing about positioning is the visibility of the brand in the market.

In today’s time, if a product or service cannot be made available through channel partners and outlets then it can be made available through internet, mobile or print medium. This way the customer can place their order and the product or the service can be provided at their doorstep. In places where an outlet cannot be opened an extension counter could be started to generate and cater to enquiries. Here the customers can get the required information which would help them in their decision making process and also they can place their orders at the extension counter. Hence, even if the outlet is not the same town still the customer would feel closer to the brand because of the extension counter.

With the help of the network partner or extension counter we also get the information of that particular market and how the competition is positioning them self in that market. In case of places where our outlets are not available, the network partner or extension counters work as the helpdesk for our potential customers. If we look at the human psychology here, the customer of the places where we do not have outlets would not be aware about the process to follow for getting the product or service. Due to the lack of information and geographical distance, our potential customer might delay or cancel the idea of using our product or service. Only when the customer is highly motivated and decided upon using a brand they will take the pain to find the product. Generally customers are happy to move to an alternate or the competition which is readily available and there to help them in the decision making process. Hence, the network partner or the extension counter will work as a nodal agency between the customer and us. This makes the process involved in the availing the service or buying the product easier and comfortable for the customers.

Finally, for positioning the product we can use direct outlets, network partners or extension counters. If none of the above options is available then we have to ensure that the customer should be able to reach us through easy mediums like internet or telephone.