For any startup business, the number of decisions that must be made can seem endless. After the initial decisions that can include the company name and product offerings, you must then decide on a brand positioning strategy.
This single decision can have significant consequences on the way the business operates, how much capital is needed, and which consumers are a likely target. To decide which brand position is right for your company, you’ll first want to understand its unique selling proposition. Consider some of the following positioning strategies to help you determine which best aligns with the value offered by your company.
Cost Leader
Businesses with this brand positioning strategy will focus on lean operations and logistical effectiveness. Brands in this category provide a suitable product at a lower price than their competitors, and provide cost savings to price-conscious consumers.