For a business to flourish, it is important to create a business’s brand image. A business must offer products that would catch the eye of a customer easily, and at the same time, offer something distinguished to the customers that are missing from competitors. By boasting these qualities, a business can establish itself in the market and create a brand value for itself to its consumers. This is known as brand positioning, and it is a widely used tool in the market place to motivate sales and advertising.
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Using Brand Positioning to Create Business Value
The Big Idea: What Brand Positioning is About
Brand positioning deals with the reason for a potential or existing customer to buy your brand in preference to that of rival products. In the popular bestselling book Positioning: The Battle for Your Mind by Al Ries and Jack Trout, the authors suggest that a brand must first identify, and then develop, a uniqueness for its product or service that would distinguish it from its rivals.
This can be done by boasting its pricing policies, promotions, packaging, services or quality – but it must offer something that is both unique and relevant to the consumer, and something that would separate itself from other competitors in the market. The idea behind it is that it allows the customer to recognize the brand more easily by associating it with an emotion, feeling or sensation – and thus causing him or her to prefer it over other brands.
The Benefits: Why Use It
Brand positioning can also be used to shape a customer’s perception of the company. To develop a unique position in the market, service or product will have to be chosen such that the brand can easily separate itself from its rivals, reinforcing its stronger attributes and improving its weaker ones. Using brand positioning, a brand can connect with customers on an emotional level, and determine how it is perceived.
Brand positioning is one of the key strategies to establish a target market. A strong brand positioning explains brand details and the distinctiveness of the brand to establish a strong marketing strategy. It explores, identifies and determines similarities and differences between the brand and its rival competitors to create a brand image that would help them maintain a customer base and motivate recognition and sales. It is what sets a product apart from your competitors.
The Positioning Statement: What Defines Your Brand
One of the most important tools used in a good brand positioning strategy is the use of a positioning statement. So what exactly is a positioning statement?
A positioning statement is a short declaration that communicates what makes the brand stand out from competitors and advertises to customers why they should pick this brand over others. However, it is important to keep in mind that positioning statements are not taglines. They are miles apart. Whereas taglines are often catchy statements that are used for marketing and drive up sales, positioning statements are used internally.
A positioning statement helps to keep the bigger picture in the line of sight when making marketing or executive decisions and helps to maintain the uniqueness of the potential and existing customer base of your company.
Marking Its Position: How a Brand Emerges
With the positioning statement established, it is now time to delve into strategies that help clarify the brand’s uniqueness to consumers and make it stand apart from its competitors. To do so, the brand must, at first, take the time to evaluate its positioning at present.
This would require market research through surveys and polls. To determine how consumers view the brand at present. Market research would be required on the brand’s competitors and their positioning. To assess their strengths and weakness and thus get a better idea of the approach to take for your brand positioning. Once you have compared your positioning with that of your competitors, a strategy will need to be formed based on the existing data and opinions collected from customers.
Next, the new strategy would need to be tested to validate its efficiency. Again, by collecting opinions from potential and existing customers via polls and surveys and analyzing them.
However, one question remains answered: how do you connect with consumers to make your brand more desirable and unique? This can be executed in several ways. It can be carried out through emotional means. Connecting with your consumers on a human level helps to build trust, and thus makes the product more desirable in their eyes. Knowing what problem an arbitrary consumer is trying to solve, and providing the solution in the form of a product will help attract prospects and appeal to their emotional side.
It is also important to reinforce the brand’s existing position. What makes the brand stand out from its competitors right now. With a strong brand position, the differentiating position of your brand relative to your competitors will provide you with an edge over consumers. The brand can advertise its newer features, discount prices, higher quality products and packaging, premium services or beneficial traits to shape its perception in the customers’ eyes.
There are also several factors to consider after a brand positioning strategy has been decided and executed. The strategy must be evaluated regularly to ensure the business’s success. It is of utmost importance to verify whether this strategy is helping the brand enable growth. You would also have to ensure that brand positioning is satisfying the business’s core customers. And also differentiate it from the rest of the businesses in the marketplace. Precautions must also be taken to withstand counterattacks from rival companies which may damage the perception of the brand.
In summary, it is clear that brand positioning is not only important in the short run to maintain a strong customer base and uniqueness to consumers, but in the long run too. However, when implementing the strategies for brand positioning, it is important to follow the necessary steps to establish a strong brand image in the market. Withhold its existing customers and attract new ones, and stand out from the other competitive businesses in the marketplace.