Price-only positioning is not a winning strategy. Compromising your quality standards is far worse. Tough times are temporary.
If your differentiating positioning strategy is sound, your brand will be stronger when the tough times end.
Right now could be your best time to review your positioning, points of differentiation, product attributes, and reasons to believe.
Review your positioning statement.
Put yourself in your customers’ and prospects’ place. See things from their point of view. Do the differentiating points you claim really matter to them? Lacking real differentiation that matters may force you into a “me too, price-only” position. And you do not want to be stuck there!
Can you express a position with real differentiation, one that you can call your own and make it resonate with your prospects?
Have you credible differences you can substantiate?
Can you offer real proof? With numbers? Case studies? Demonstrations? Testimonials?
Are all your people and not just the marketing team, aware, trained, equipped, and prepared to be good stewards and ambassadors of your brand?
Just something to think about before you take the easy route and just lower the price.
