Positioning in business is a strategic process that involves creating an identity/ image of the brand or product within the target customers' minds.
Wrong Positioning could cost you a customer!
Joshua Bell, a World-famous violinist displayed the importance of positioning through his social experiment which took place for the first time in 2007. The experiment involved Joshua Bell playing in a busy subway station in Washington, DC at rush hour. Bell decided to use his Stradivarius violin, an instrument with an estimated value of over three million dollars.
The people who designed this experiment expected at least 75 to 100 people would stop to listen to Bell. They also estimated that he would make at least 100 dollars during his time playing violin in the subway. After all, three days earlier the experiment Bell was playing in a concert where the bad seats cost about 100 dollars.
The experiment was conducted on January 12, 2007. He started by playing a piece by Johann Sebastian Bach, followed by Shubert's Ave Maria. In the end, the world-renowned prodigy played for about 47 minutes. During that time, 1,097 people walked past Bell.
What were the results of the experiment?...
To everyone's surprise, only 6 people stopped and listened to Bell playing the Violin. In total, Bell earned $32.17 for his performance.
What is the message from this experiment?
The social experiment carried out by Joshua Bell proved that people often look without really seeing what is in front of them.
Be aware of where you sell your product or service!...
Want to know more?
Call us at 01707 245424 or email us at hello@gnbc.co.uk