Positioning and Differentiating Your Business free essay sample

All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from E-Myth Worldwide. The E-Myth Mastery Program Module 2: E-Myth Marketing Fundamentals Business Development Process: MK-0040 Positioning and Differentiating Your Business Page 8 mistrust the people they will be dealing with. That presents you with the opportunity to position your business as friendly and filled with employees who enjoy helping customers. Or you might notice in target market â€Å"B† that honor and integrity are prized personal values and the dominant purchase preference is â€Å"performance† (they focus on reliability, dependability, and quality). This could lead you to position your business as one that â€Å"goes the extra mile to make it work right for you. † Once you learn to apply this approach, the possibilities are unlimited! Redefining Your Products With so many similar and competing products and services out there, redefining yours so that it stands out from all the rest is an important part of your Positioning Strategy. We will write a custom essay sample on Positioning and Differentiating Your Business or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The E-Myth Mastery Program Module 2: E-Myth Marketing Fundamentals Business Development Process: MK-0040 Positioning and Differentiating Your Business Positioning Strategy Worksheet (cont’d) Key product attributes I Functionality I Sensory impact I Unconscious associations I Conscious-mind conclusions I Price/value I Access/convenience How they apply in this market segment†¦ Key psychographic characteristics How they apply in this market segment†¦ This component requires that you describe your product in terms of its key attributes as perceived by the customer. For purposes of positioning, you don’t have to create a detailed product description – just a few words to identify the kind of product, plus a few phrases describing the one, two, or three attributes that make it stand out from all others. (Later, in Your Marketing Strategy, process MK-0060, you’ll create a detailed product description. ) Key Product Attributes: The Customer’s View Functionality Sensory Impact Unconscious Associations Conscious-Mind Conclusions Price/Value Access/Convenience Functionality. What the product does, especially what it does for the customer. Sensory impact. The sensory experience of the product. What does it look like? Sound, feel, taste, and smell like? Unconscious associations. What common unconscious associations is the product likely to trigger, and what emotional responses are likely to be stimulated by those associations? Derived from careful study of your Central Psychographic Worksheet for this market segment†¦ Conscious-mind conclusions. What are the logical, rational judgments and conclusions the conscious mind is likely to reach regarding this product? Price/value. Is the price of the product perceived as high, moderate, or low, and is the product worth its price? Access/convenience. Do customers have access to the product? How easily can they get it? Is it convenient – nearby, no hassles, minimal effort? Consider these examples of products that have been â€Å"redefined. † (We’ve noted the key product attributes used for the redefinition. ) How do you respond to them? Copyright  © 1986, 1988, 1994, 1996 by E-Myth Worldwide. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from E-Myth Worldwide. Copyright  © 1986, 1988, 1994, 1996 by E-Myth Worldwide. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from E-Myth Worldwide. The E-Myth Mastery Program Module 2: E-Myth Marketing Fundamentals Business Development Process: MK-0040 Positioning and Differentiating Your Business Positioning Strategy Worksheet (cont’d) The E-Myth Mastery Program Module 2: E-Myth Marketing Fundamentals Business Development Process: MK-0040