Why is Product Positioning Important?
As marketing consultants to developers since 1982, we at Parker Associates have had the opportunity to constantly meet with builders and developers to discuss the projects they are working on. Inevitably, the question of what types of buildings and homes they should construct on and in the project. It’s not a simple question and the answer depends on a number of different factors that need to be looked at.
In a good market where things are selling, the theory of build it and they will come is often employed. Builders and developers tend to follow the others and work from their gut. It’s a great strategy until things don’t sell. Almost every conversation then begins with “Why aren’t we selling?” or “We need a new marketing strategy that will help us reach more customers.”
After a few consultations where we dig a little deeper, there’s nearly one common reason why most companies struggle to generate success through their marketing efforts: they haven’t put the right products in front of the right people. It’s all about Product Positioning and the team at Parker Associates are experts on defining how to best suit the consumers.
Product Positioning is essential to Success
The definition of product positioning is the design of products including buildings, communities and developments, as well as their communications media presentation, to appeal to the needs and preferences of the defined target consumers. It requires creative visual arts skills as well as knowledge of target consumer Demographics, and, often more importantly, Psychographics to prescribe optimum appearance and translation into target consumer appeal.
Historically, developers have copied competition positioning that either appeals to them personally or appears to generate higher competitive sales. Although such precedents may produce positive results, they also reduce the potential of becoming a trend-setter based upon accurate consumer knowledge.
Parker Associates has a time tested method of product positioning. Parker Associates bases product positioning on specific consumer preferences from current surveys and focus groups published by industry periodicals and reports, or direct consumer interaction designed and carried out by Parker Associates experts and contractors. It is too important for guesswork or client opinions.
David WB Parker is a principal of Parker Associates of Jacksonville, Florida, marketing consultants to the real estate industry; President of PTC Computer Solutions, IT Specialist, and an active real estate sales professional with Barclay’s Real Estate Group based in Jacksonville, FL. He is also a principal partner of the REMA Team of professionals. He can be reached at 904-607-8763 or via email firstname.lastname@example.org.