© Karon Thackston 2002 http://www.ktamarketing.comHave you ever wondered how to get out of a “sales slump”? I think all of us have! One of
most common things we, as small business owners, allow ourselves to suffer through is “narrow mindedness”. We have thoughts about what our product/service is, what it does and who it serves.
When we get stuck in this mindset, we lose out on tremendous amounts of income from other markets we might not have even thought about. Bob Serling is about to shed a giant, bright, white light on this matter. Pay close attention… you will learn a LOT.
Bob is
editor of Product Development Hotline, an online newsletter that helps people create lucrative new products and services, position their products for maximum sales, and sell or license their product ideas for millions. He has helped dozens of companies create new products that fulfill their customers precise needs and position their products for greater profits.
KARON: As I've been shopping, I've overheard store managers remark, "we need to move
displays around so sales will pick up again on those items". It's true that repositioning (whether physically in a brick and mortar store or finding a new niche online) does increase attention. Tell me
reason behind this. BOB: There are two reasons. First, all promotional approaches have a natural life cycle. Response to them degrades over a period of time. So it's important to periodically test new positioning to see if it outperforms your current positioning. If it does, then by all means replace your current positioning.
Second, market conditions can dramatically affect
success of your positioning. For example, using
retail store example, in a tough economy, lobster and champagne may become more difficult to sell. But small quantities of expensive high-quality chocolate still give people a way to pamper themselves without feeling like they're breaking
bank. A position of "You can still treat yourself like a king on a pauper's budget" could be used to sell
chocolate. KARON: Would repositioning work for ANY industry? How about service-based offerings (legal firms, consulting, etc.), e-books or ad agencies? BOB: Effective positioning is a matter of finding out what matters most to your customers or clients, then "grafting" your product or service to that message. So, yes, any product or service can be repositioned.