Product Positioning

Overview

Successful businesses will have achieved product-market fit with a large enough customer base to make them profitable.

There is a careful balance between a large enough targeted customer base and being tempted to go too wide. By appealing to many types of customers the value proposition gets confused and goes off in many directions. Ultimately this doesn’t satisfy anyone. The problem here is mindset where you feel you are leaving money on the table.

Product positioning is about optimising your offering in the market by solving the right problems for specific customer segments.

Innosee has created several canvases for these outputs. They are not currently available online. Please reach out if you want more information.

More details

Market positioning

Market positioning helps you identify how to maximise success by understanding your strengths and weaknesses. It is particularly important to take competitors into account when forming your value proposition.

Value proposition

  • What is your overall value proposition?

  • Why will customers select you over the competition?

Target market

  • What type of market are you in?

  • What size is this market?

  • Who is your Ideal Customer Profile (ICP)?

  • Who are your competitors?

The Market Positioning Canvas (currently in BETA) gives you the tools to this.

B2B personas - Business to Business

In B2B, we deal with three types of personas. The first is the type of companies that will buy your product. These should allow you to select one type where you can maximise profit. This is known as the Ideal Customer Profile (ICP). To help the sales process you can also profile the types of people buying from you. Finally, the users of the product may be different from the buyers, and these can be profiled as well.

This is summarised by the following questions:

  • How will you segment the companies that buy your product?

  • Who can you target to maximise profit? (Ideal Customer Profile)

  • Who are the users of your product within these companies?

  • Who are the people with buying power?

B2C personas - Business to Customer

Unlike B2B, our buyers and users are the same in B2C. Therefore, there is only one type of persona. Identifying the Ideal Customer Profile helps focus the product and maximise profit.

  • How will you segment your customers?

  • Who can you target to maximise profit? (Ideal Customer Profile)

See the following canvas for how to create these.