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How to Determine Your Market Positioning

How do I use this positioning statement in practice when starting a business?

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  • David Krauskopf Fred Glave
    www.scoredc.org  

    David Krauskopf is an entrepreneur experienced in starting, financing and growing several companies with direct experience in travel, hospitality, software, computer, and retail industries.   His specialties are in business planning, marketing (internet particularly) and financial management.  David was the general manager of Apple Computer in Russia from (1993-1999) and owned the exclusive representative for Apple Computer in Russia and the Ukraine.  He founded a printing and press room solutions company in Russia in 1996, and these combined companies in 2007 had over $300M in sales revenue.   David helped start and was on the advisory board of Travelpost.com that was acquired by Sidestep in 2007.  In 2000, David developed and now owns Hamanasi Adventure Resort (<a>www.hamanasi.com</a> ), a high-end boutique resort in Belize, Central America.  This resort has 70 employees, high operating margins and is currently ranked number one in Belize and Central America by the hotel review web site TripAdvisor.com.  Mr. Krauskopf lives in Northern Virginia, is an angel investor with New Vantage Group (<a>www.newvantagegroup.com</a>) , David is a volunteer SCORE (<a>www.score.org</a>) business counselor partnering with the Fairfax County Economic Development Authority and for two years has been an Assistant Wrestling coach at Langley High School.  David holds an MBA from the Kellogg School of Management (2005) and a B.S. degree in Management from Miami University. 

  • How do I use this positioning statement in practice when starting a business?

     

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    <p>Host: How do I use this positioning statement in practice when starting a business?</p><p>David Krauskopf: Take the time to write a statement that is general about your business, but that is powerful and concise. Then when you think that you are comfortable with that, you need to ask yourself a few questions. The first one being, how big is this target group of customers? How can I access that target group? How can I sell to them and do I feel confident I will be able to get enough sales from this target group through this process to sustain my business and grow it?</p><p>Then I want to look at what are the primary benefits and things that I am offering to my customer versus the competition. I really need to go out there and say, "What is someone else offering that is similar to what I am offering? Do I really bring something to the table that has enough value compared to them or differentiation and do I have my arguments in place to show that to that customer?</p><p>" So you need to do a double check on this to make sure that your product or service is strong enough to actually add value to that customer. You can do this by comparing to the competition and what that customer is buying today. Then, once you have passed this litmus test, so to speak, you will be ready to take your positioning statement and go out and actually use it in application of marketing communications. So I can build my website around this core information, I can do an advertisement or a brochure around this core information and I can start talking to potential customers and using these points and test it. After you start to get feedback coming in, you probably will need to come back and do a little revision on this statement. 1</p>

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