Positioning in Marketing
Your Home Based Business

Maybe you'll be the cheapest -though this is not usually a good strategy for long term wealth unless your cost base is lower than your competitors.

This could be the case where your competitors have the expense of a full time business premises whereas you work from home. If so, you could be in the fortunate situation where you are the cheapest and yet also achieve a good profit margin.

Ideally you identify a market position other than low price. For example, perhaps you will offer a home visit service (say if you are doing computer repairs) whereas the competition insists that customers take their computers to a central repair shop.

It's about looking for a profitable niche - the 'gap in the market'. What could you offer that no one else is offering - and of course that your potential customers are willing to pay for?

What if it's very difficult to distinguish your service from your competitors? No problem - you just need to look at other benefits that you can attach to the service.

An excellent way to identify a profitable niche is to carry out some market research. Talk to some people who already buy the type of service you are intending to offer. These are the people whose opinion counts - because they are in that special group: your potential customers.

However you achieve it, positioning in marketing is about deliberately planning to create a certain impression in your customers' minds to say that your homebased business is different. Not only is it different - it's better.

One last point. It's not the whole world that have to like your offering. It's just that small group of people who are going to buy from you - your target market.

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