WHY ALWAYS YOUR JEWELRY COMPETITOR?
Quick answer: One day, you want to buy an iPhone. There are two stores in front of you. One is an electronic grocery store that sells mobile phones of any brand, and the other is an Apple store. Assuming that the iPhone sold in the two stores come from the same factory, and the selling price is the same. Which one would you choose?
I guess you will walk into the Apple store without hesitation. Why? Because people are born with the habit of avoiding risks. When we are unable to form a specific impression of a commodity in our cognition, we unable to estimate the risks it brings to us. Even though the price in electronic grocery stores is very low, due to its miscellaneous attribute, we can’t help but wonder will the iPhone quality be guaranteed? But the Apple store can give us a concrete impression of "professional" and "guaranteed quality".
1. Why you need to Position Jewelry Store?
In fact, the key factor that causes jewelry consumers to make different purchase decisions among similar products is also the same, which is called "POSITION".
How to understand it? For example, when you want to eat burgers and fries, you will definitely walk into McDonald's. When you want to drink cold drinks, you will definitely think of Coca-Cola. Even if McDonald's is not the only shop that makes burgers and fries, there are millions of sodas in the world, but you still can’t help choosing them. The reason is that these brands are very clear about their positioning and use marketing methods to constantly solidify the target customers' impression of their products. Over time, they will become representative symbols of a certain field. Therefore, the greatest effect of "POSITION" is making consumers isolate a brand from competitors.
Back to the jewelry store, if you can leave a professional and reliable impression on your target consumers, they will definitely take you as the best choice.
2. Why position jewelry store is so important?
You may think that there are more influential factors than "JEWELRY STORE POSITION" in the sales process, or it is something that cannot be profitable quickly, so you just keep it on hold. However, it is far more important than you think.
(1) Hard to be reversed
Once the customer has formed an understanding of your jewelry store, it is difficult to be reversed. For example, if a consumer finds that your website has no content or your physical store is very messy, he will take you as an unreliable supplier. Even if you continue to prove yourself in the follow-up process, the customer will find a bunch of evidence to overthrow you. Since people are all preconceived, why don't we “POSITION” customer perception at the beginning
(2) Influence in a wide range
More importantly, whether your target group is ordinary consumers or corporate customers, they will all be affected by your "JEWELRY STORE POSITION". As ordinary consumers, their purchase amount is usually relatively small and many orders are placed on impulse. Therefore, the jewelry store's position can easily influence their decision-making. As for companies, their purchasing decisions are still made by individuals and are easily affected by perceptual factors. Once a business is mixed with perceptual factors, customers will inevitably receive cognitive influence in their minds when making decisions. In short, as long as the leading role of the business is "people", the decision-making process will definitely be affected by mental perception.
(3) Adapt to international trade environment
In the past trade environment, the demand for goods is an outrunning supply, and consumers had few choices about what they really want to buy. The price control power naturally belongs to us. But now, consumers can look for almost all things online and gain different quotations from a bulk of supplies. That means, the seller market has become a buyer market, suppliers are not in the dominant position. If we still cannot do a good job for the jewelry store position, we are actually pushing target consumers to competitors.
For example, although KRKC produces many types of jewelry, we are positioning ourselves to provide customers with the highest quality products at reasonable prices. Therefore, we take moissanite diamond jewelry as our core competency.
3. How to Position Jewelry Store?
How should we position a jewelry store? Simply put, we need to know "who am I", and then find our competitors and target customers based on this.
(1) Answer the questions
In general, the process of “jewelry store position” is to solve problems from the following four dimensions. As long as you can find the answers to these questions, you can naturally find the most suitable position for your jewelry store.
A. Who am I?
What is my advantage?
What is my disadvantage?
Where is my opportunity?
Where is my threat?
What is my core competitiveness?
B. Who are the consumers?
Who are your direct buyers?
Who are your indirect buyers?
What are their basic characteristics?
What are their behavioral characteristics?
What are their attitude characteristics?
C. What is consumer demand?
Why they want to buy jewelry? Gift or souvenir?
What goals do they want jewelry to achieve? Make girlfriends happy or show filial piety to parents?
What are their key demands, primary demands, secondary demands, and dispensable demands?
What is their budget for the purchase demands?
D. Who are the competitors?
Who are my competitors?
What is the main difference between my competitors and me?
How does this difference affect consumer decisions?
(2) Target accurate competitors
Only companies with similar positions and the same target consumers can be called competitors. For example, as a rising jewelry brand, KRKC will not regard Chanel as a competitor. Therefore, we need to compare from different dimensions, including sales, operation, R&D, marketing, purchasing, manufacturing, and so on. After that, we can merge all the information together to gradually form a complete and objective “jewelry store position” portrait.
(3) Objectively elaborate our jewelry store
To be noted that the "me" in our own eyes is very different from the "me" in the eyes of others. Therefore, in the process of self-positioning, we should be careful of "self-interested bias."
A. All information should be supported by data and evidence.
For example, when we are preparing promotional materials, we should not use the phrase like "Our Cuban link chains are low in price", but try to use a phrase like "Our Cuban link chains is X% lower than the market standard".
B. All information should be compared.
For example, when we are preparing a selling language, we should not use the phrase like “Our Tennis bracelet has perfect quality”, but try to use a phrase like “Our Tennis bracelet is the same as XX brand, the Top 1 in the industry”.
C. From the perspective of the impact on consumers.
For example, if your target consumer is quality-oriented, then even if the phrase like "Our custom pendants have a 10% price lower than XX company’s" is supported by data and evidence, it is meaningless for him.
All in all, POSITION is our objective position in the market, which can help us do a better job in marketing and sales.