Update from ICON regarding COVID-19

In today’s commoditised world, it can be hard to differentiate your product or service from the competition without freefalling into an all-out price war.

In industrial centred businesses, an integrated marketing strategy can provide points of differentiation to ensure potential customers value the benefits of your offering over those of your competitors without price being the only factor to compete in.

Successful positioning and differentiating yourself in the market is the culmination of determining what value your product or service is to your customers.

When a consumer purchases your services or products, they are buying more than a set of physical attributes. They are buying tangible product or service as well as the intangible values that you bring.

On top of the tangible (physical) product or service itself, intangibles increase the value of your product. The intangibles can include guarantees, service, credit facilities, delivery, installation, training etc. The intangibles can be defined as anything that you cannot touch or see but is valued by your customers.

It’s the understanding of how to market and communicate both the tangibles and intangibles that make up your brand that will establish your successful brand positioning and your unique place in the market.

Intangibles Tangibles3