Have you ever wondered why you instantly know a Maccas meal is going to be cheaper than a fine dining experience? Or why a Hyundai isn't going to cost you as much as an Audi?
That my dear business friends is Brand Positioning in action!
"In a service-based business, it's important to talk to the customer about the result they're going to get and how they'll feel and the experience they'll get and what you offer them that no one else can offer them."
What is your brand's position in the market, and how does it affect your ability to price your products?
When you're talking about your product or service, are you constantly haggling on price? Or are you talking about why you're needed?
In this episode, you will learn the following:
1. How brand positioning affects your ability to price in the market
2. Why it's important to talk to customers about the results they'll get from your service
3. How to find the right balance between being the cheapest and offering the best solution
Chapter Summaries:
[00:01:54] - Today's episode of the podcast is about brand positioning and how it affects your ability to price in the market. It's about McDonald's, KFC, fast food joints of the world, Sake the Keys, the Merrivaled Group, and fine dining restaurants. In a service-based business, it's important to talk to the customer about the result they're going to get and how they'll feel and the experience they'll get and what you offer them that no one else can offer them, especially at a lower price.
[00:07:28] - When you're talking about your product or service, are you constantly haggling on price? Or are you talking about why you're needed and positioning yourself in a more luxurious kind of service product offering? There's also a mid-ground where you can sit where you're not necessarily the cheapest, but you offer a good solution that's better than the cheapest.
Other episodes you'll enjoy:
When should I do market research?
When should marketing become a factor for my business?
Helpful Marketing vs Free Answers
Connect with me:
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LinkedIn – Rebecca Chappell
This podcast has been produced and edited by Snappystreet Creative
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Instagram @bec_chappell
LinkedIn – Bec Chappell
If you're ready to work together, I'm ready to work with you and your team.
How to work with me:
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This podcast has been produced and edited by Snappystreet Creative