What are the 3 P’s?
Published on: July 27, 2021
No, not the 3 little pigs.
..But they can help explain them!
The 3 P’s are a mneumotic device used to remind you of the key factors that help build a strong foundation for your brand strategy and/or marketing.
1) Positioning
Using market research to figure out where you stand in your industry and how to use that to your benefit.
This will help you:
- Control the narrative & reputation of your biz
- Find your differentiator so you can stand out
- Understand your competitive advantage & explain why your audience should buy from you
1st Piggy’s Mistake
Without market research, you can end up with the wrong positioning.
The first piggy ended up positioning his brand with convenience over quality. While businesses can thrive from this positioning, it doesn’t mean all should use it.
Instead, use research to find your pain points (a big, bad wolf in the area) and how your competition does well (higher quality builds). This allows you to choose a position that makes sense for your business.
