Plenty of businesses are battling for a portion of the market pie in today’s business scene. For customers, the vast variety of choices available might be daunting. How can you make sure your brand stands out in this ocean of rivalry? The concept of brand positioning in marketing comes into play in this scenario.
What is brand positioning?
At its core, brand positioning is an approach used by businesses to differentiate themselves and position their brand as desirable in the minds of their intended consumer base. Utilizing factors including product quality, price, reputation, marketing communications, and customer service, it involves creating a distinctive impression that sets the brand apart from competitors.
Simply put, objectives of brand positioning or brand positioning process involves gaining a distinctive position in the minds of your target market that reflects the fundamental beliefs, benefits and distinctiveness of your business. Customers that have seen effective brand positioning have a solid understanding of its values, products, and opportunities over competitors.
Why brand positioning is important?
A vital part of marketing and general business strategy, process of brand positioning offers a wide range of possibilities. Brand positioning importance is outlined below.
Making an identity for yourself in a jam-packed market is vital. By showcasing its distinctive selling propositions, a well-positioned business sets itself out from other businesses.
Whenever a company continually meets its obligations to customers, it earns their trust and nurtures a loyal following.
A business with a strong brand positioning may be able to charge more for its products or services because customers are ready to pay more for a product they believe to be exceptional.
Improved Marketing Communication
A clearly defined positioning approach directs marketing activities while helping in the formation of more precise and potent interactions.
Growth & Expansion
Successful brand positioning statement can be leveraged for business growth and achieving the business objectives. It can help brands expand their product line or enter new markets while maintaining a consistent image.
Types of Brand Positioning Strategies
Having understood the importance of brand positioning, let’s explore some brand positioning strategies/brand positioning types to achieve effective brand positioning in marketing.
The main goal of value-based positioning is to highlight the value that your product or service offers to the customer. This value can take numerous forms, including a product of outstanding quality, a time-saving service, an exceptionally reasonable price point, or a product that delivers outstanding ease. Here, your objective is to focus on the value proposition that your brand offers.
For instance, Costco utilizes value-based positioning to provide customers a variety of products in huge quantities at extremely affordable prices. With this value proposition, they distinguish themselves from conventional sellers and solidify their market standing.
Benefit positioning emphasizes specific advantages or benefits that your brand offers. Your positioning statement is if your product delivers a specific benefit that isn’t readily accessible elsewhere. Volvo has used this tactic to great effect by promoting their vehicles as the world’s safest. Their marketing emphasizes the special advantages of safety to attract to customers who value this quality in a car.
According to how your products or services differentiate from or surpass those of your competitors, this strategy entails creating a brand expertise. The vehicle rental business Avis successfully employed this approach with their well-known slogan, “We’re Number 2, so we try harder.” Avis was Hertz’s primary competition in the market, which Avis publicly acknowledged, but Avis took advantage of this by suggesting how they try harder to please their customers.
Here, you place your brand in accordance with attributes like age, lifestyle, profession, or personality to appeal to a certain customer group. GoPro is a company that excels at this. They deliver themselves as a brand which promotes adventure and thrill-seeking instead of just as a camera manufacturer.
Their marketing is aimed at adventurers, fans of extreme sports, and outdoor enthusiasts who would like to preserve their experiences on video in high quality.
Quality or Price Positioning
This tactic is focusing your brand either on pricing or quality. If you prefer quality, even if it means paying more, your brand promises the highest standards. Price positioning, on the other hand, places emphasis on affordability or value for money. A company like Walmart has effectively positioned itself as being low-cost, assuring customers “Everyday Low Prices.”
Elements of brand positioning in Marketing: Steps
How to do brand positioning? Here are the general steps to position your brand that will end up in an excellent brand positioning strategy.
Establish Your Business Goals
Your brand ought to echo the objectives of the business you represent. Start by stating your goals in clear terms, such as expanding into fresh markets, gaining market share, improving client loyalty, or something else.
Decide on a Target Audience
Recognize the market you are targeting. You must be aware of their needs, desires, values, and behaviors. Here, market segmentation can be helpful since it enables you to narrow in on specific client demographics that are more likely to be passionate about your products or services.
You must be aware of where your competitors are situated in the business sector. Consider their advantages, disadvantages, market position, offerings, costs, and demographic focus.
Understand Your Unique Value Proposition (UVP)
Determine what differentiates your brand. What defines you from your competition? It may be first-rate customer service, outstanding product features, cutting-edge technology, a novel strategy, or other differentiators.
Create a Positioning Statement for your Brand
The positioning statement should outline your UVP, your target market, and how you differentiate out from the competitors. It needs to be brief, appealing, and unambiguous.
Incorporate Your Brand Position into Your Marketing Mix
Your brand positioning should be mirrored in all of your product, pricing, place (distribution), and promotion attempts. For example, if the focus of your brand is premium quality, your pricing should reflect it, your advertising materials must highlight it, your distribution channels should be in line with it, and of course, your product should.
Promote Your Brand
It’s time to communicate your brand’s position to your target market now that you’ve established it. Deliver this message using a range of marketing techniques, including PR, social media, content marketing, and more. Across all mediums, your brand’s tone and messaging should be the same.
Monitor and Adjust
To keep your brand competitive and relevant, keep a close eye on its position. Keep an eye out for changes in the market, client needs, and the competitive landscape. Prepare to reposition your brand if necessary.
Keep in mind that developing a good brand positioning can take time and patience, and it may require modifications as you go. Because they are the ones who will ultimately decide whether or not your brand succeeds, always keep your customers at the heart of your decision-making process.
Brand Positioning Strategies with Examples
For a more practical understanding, let’s look at a few brand positioning examples of successful brand positioning. These crisp brand positioning case studies will help you understand brand positioning concept better.
Brand Positioning of Apple
Apple is positioned as the epitome of innovation, design, and premium quality. Its “Think Different” campaign perfectly encapsulates Apple brand positioning, appealing to consumers who value uniqueness, creativity, and top-tier technology.
Brand Positioning- Nike
Nike positions itself around the concept of inspiration and innovation for every athlete. The brand’s “Just Do It” slogan encourages individuals to overcome challenges, embodying the spirit of athleticism and personal achievement. This brand positioning of Nike targets not just professional athletes but anyone with a body, as stated in their mission.
Brand Positioning- Coca-Cola
Coca-Cola has positioned itself as a brand associated with happiness, refreshment, and shared joy. Its “Open Happiness” campaign highlighted these sentiments. Regardless of the product variation – Classic, Zero, or Diet – the central theme remains consistent.
Brand Positioning of Amazon
Amazon’s brand positioning is around customer-centricity. Its tagline “Earth’s Most Customer-Centric Company” reflects this, with a wide selection, low prices, and convenience through fast delivery and easy-to-use interfaces.
A marketer’s toolkit contains a powerful instrument called brand positioning. Customers’ perceptions are shaped by it, and it has an impact on how they shop. A distinctive, distinct, and consistent brand positioning approaches are frequently the key to the success of many well-known brands around the globe.
But establishing an effective brand positioning requires continuous work. To make sure it stays current and compelling in the face of changing market conditions and consumer preferences, it takes continual efforts, uniform advertising, and routine reassessments.
Keep in mind that your brand positioning approach should be in line with the broader goals, values, and preferences of your target audience. The secret is to figure out your brand’s distinctive qualities and highlight them in your positioning statement. When your brand’s positioning stands out, is dependable, and well-known by consumers, it will stand out in even the most saturated markets.
Determining and controlling how a business’s image is viewed by its target market is known as positioning a brand. Finding a unique, differentiated niche for your product or service in an increasingly competitive marketplace is the objective.
Understand that your brand is more than simply what you tell customers it is. It is what customers report to each other. Effective brand positioning also helps with keeping the narrative positive and differentiated in this argument.
How to position a brand in the market?
What is the best way to position a brand?
Contact AD Vantage to find answers for these queries and design the best brand positioning strategy for your brand. Let’s connect.