it allows a company to achieve superior margins regarding a brand or product relative to competitors. the objective of market positioning is to establish the image or identity of a brandpersonal brandour personal brand is what people see as our identity, who they see us as and what qualities and things they associate with us. the map allows you to identify how competitors are positioned relative to you and to identify opportunities in the marketplacemarket economymarket economy is defined as a system where the production of goods and services are set according to the changing desires and abilities of. create a positioning statement that will serve to identify your business and how you want the brand to be perceived by consumers. identify your existing market position and how the new positioning will be beneficial in setting you apart from competitors.

in this guide, we’ll outline the steps for a competitive analysis and explain how you can use this marketing strategy to improve your business. the purpose of this type of analysis is to get a competitive advantage in the market and improve your business strategy. the next step in your analysis involves a comparison of your product to your competitors’ products. competitive intelligence will make up a significant part of your competitor analysis framework, but once you’ve gathered your information, you can turn the focus back to your company.

deciding how much to charge for your product requires more thought than simply calculating your costs and adding a mark-up. figuring out how much the customer values your product or service and pricing it accordingly is called value-based pricing. pricing a product is one of the most important aspects of your marketing strategy. you still have to make sure the value to the customer is higher than your costs. dolansky says entrepreneurs often used cost-based pricing because it’s easier.

distribution strategy is the method used to bring products, goods and services to customers or end-users. or if your product is a routine, everyday item like a bottle of water, buying through convenient and nearby shops may be more appealing to the customer. here's a definition of direct and indirect distribution strategy: direct distribution strategy: direct distribution is when manufacturers sell and send their products directly to consumers without the use of other parties and entities.

the purpose of advertising is to reach people who are willing to pay to buy your product and service. you are required to understand your business and your target audience to create an effective advertising strategy that maximises the sales of your product. the second and even a crucial step in creating an effective advertising strategy is to determine the audience that you want to target using your advertising strategy. the next important step is to determine the budget for your advertising campaign.