Create Your Market Dominating Position

Written on 16/05/2020

Create Your Market Dominating Position

A Market Dominating Position is any value-added CUSTOMER perceived benefit, or a combination of benefits, that differentiates a business from its competitors; and does so in a strong enough manner that it makes a business the logical choice in the minds of prospects and customers.

It may be the single, most important element when building a successful business. It’s what sets your business apart from your competitors.

Category #1 involves the level of service you provide
6 different areas:

Area 1 Convenience:

  • Location
  • Availability
  • Ordering process, must be easy
  • Delivery
  • Payment terms; over 30,60, 90 days or multiple payment options 3 easy payment plan
  • Miscellaneous services

 

Area 2 Speed

Area 3 Education and training

Area 4 Eliminate all potential risk, guarantee and or no contract to sign, return policy

Area 5 Quality

Area 6 Security and Safety

 

Category #2 Selection

  • Shapes
  • sizes
  • models
  • colors
  • models, and so on

 

Category #3 Pricing

  • First, Single, or Fixed pricing
  • Increasing or decreasing the price
  • Offer small value-added services

 

4 Categories for Strategic Positioning

  • Demographics – gender, age, income level, ethic/culture, location, education
  • Psychographics – define the emotional components of your target customers, identify their hot buttons; the problems, fears, frustrations, concerns most prospects experience what they buy what you sell if your solution solve these hot buttons you create a market domination position
  • Business Profile b2b
  • Services and prices levels will determine the market you want service, there are always who will pay for quality, consider offering premier services

The 80/20 Rules

Approximately 20% of your customers account for approximately 80% of your business

  • Customers buy what they want not what they need
  • Customers buy based on emotions not on logic
  • Customers buy based on value not on price

Consumer

  • Consumer or other businesses
  • Mostly men or women
  • A certain age group or range
  • Single, married, divorced
  • A certain income level

Business

  • The annual revenue
  • Number of employees
  • Where the business is located
  • Number of branches
  • The organizational structure
  • The product or services they sell

Who needs our services

  • Start-up business
  • A business experiencing financial difficulties
  • Established business wanting to increase their growth rate
  • LCC, a solo, major corporation
  • Single location or multiple branches
  • Zero to 50 employees
  • Annual revenue zero to $50 million
  • Aga 0 to 100 years old

Identify Physical profile

  • Identify emotional profile – choose the youngest, the mid and the oldest
  • Choose your niche market which meets your passion
  • Physical Profile – 10% of the success equation
  • Number of employees (range) 10 – 50
  • Headquarters location in USA, Canada, Australia, West Europe
  • Product or Service Type
  • Annual revenue (range) +100k
  • Number of branches (range) 1-10
  • Location of branches worldwide
  • Year founded (range) +10 years ago
  • Organizational structure Company
  • Title of decision-maker CEO/Owner
  • Decision-maker Owner
  • Influencer product manager/ sales manager/ marketing manager
  • User
  • Emotional Profile – 90% of the success equation
  • Start-ups and businesses need leads and cash flow fast
  • 5-year-old 1M mid-size businesses 5-15 employees want help to grow their business to the next level
  • Larger older business wants help replacing themselves, so they can spend more time with friends and family instead of living 24/7 at work in order to ensure that their business does not implode if they’re not there