Positioning Your Business

We have always heard that "you can't be all things to all people" and of course that's true. That means you must decide where you want your company/brand to be remembered in your target market. The common options would be:
1. the lowest price, just the basics
2. the middle price, good products, services and appearance
3. the highest price luxury level with all the extras

Most businesses can't compete with the big discounters on price so success at level 1 is difficult if not impossible. A luxury band will provide more profit but may eliminate 80%-90% of the target market and takes a longer time to establish. The middle price and quality is where most businesses will succeed because you can still add value over your competitors. Many people will purchase at this level and become loyal customers if you back-up products and handle any problems quickly. Decide where you want your business to be positioned and stick to it.