What are some tips to achieving a successful market positioning strategy?

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 Target Audience: the company must understand the demographics, lifestyle, and spending habits of a customer to attract them to their business and know how to market their product towards them. 

 Branding: a business must establish brand credibility, long-term relationship, and brand loyalty with target audiences which in return will increase the company’s overall retention rate. 

 Value Proposition: creating a value proposition that reflects why a business’s product/service is the best fit for the customer’s needs is very important.  A value proposition must reflect the quality and the uniqueness of a business to attract consumers to the company.  

 Competition: knowing the details of competition is the key to differentiation in product positioning, whether it is through innovation, development or just basic core values. 

 Competitive Advantages: Consumers are attracted to the best offering in the market in terms of price, quality, and convenience.  Therefore, a business must know their competition and show how their product/service is better than any other. 
 

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