What is brand positioning?
Brand positioning can be defined as the process of creating a definitive image for the brand compared to other competing brands. Brand positioning is not what a company does to a product; it israther what it does to the minds of the consumers. Brands create a very distinct position for their products or services in consumers’ minds. Companies position their brands through a combination of functional and emotional satisfaction as experienced by the users. Brand positioning requires the companies to conduct market research initially about the motto of the brand, what it stands for, and how people associate themselves with the brand. The better the companies know their target audience, the better their chances are for successfully positioning the brand.
Why do brand positioning?
In today’s market, there is copious supply of brand choices. They vary minimally in effectiveness. This means that the products and services have to be carefully positioned and differentiated with their unique features. Brand positioning is therefore not only important, but also critical for any business to stay relevant in their target market. It enables businesses to face competition by creating a niche for their products and services. It also helps the products and services of businesses to be seen as different from those provided by their competitors. Brand positioning is a continuous and ongoing process, and it needs to be done in a consistent way. It’s a way by which the business rediscovers itself again and again, and thus stays afloat in the market. Brand positioning is a way of stating that the business is precisely addressing the need of its consumer. If the product or service is not solving the problem of the company’s target audience, then the company should focus its efforts on getting the right message across by reassessing the brand positioning strategy. Brand positioning is an effective tool to establish exclusivity for the products and services of a company in the minds of the consumers.
How to do brand positioning?
In order to successfully establish a brand in the minds of the consumers, the companies should identify the uniqueness and strengths of their products. It is also important that the companies invest in researching about their direct competitors, and assess the strength of their products. If a competitor holds a prominent position in the market, the best way to attack is to adopt a flanking strategy and avoid hitting on their strengths. When competitors hold a significant market share, then it is obvious that their strength is the reason behind their dominant market position. Hence, hitting on the strengths would not help. Instead, it is advisable to promote a brand with its own unique features. For instance, Absolut priced their vodka 50% higher than the vodka leader, Smirnoff. By doing so, Absolut created a new category called the premium vodka.