Are you also looking for a brand positioning for your company in this competitive world?
Brand positioning is one of the essential factors to stand out in your company in the market. It helps you rule an entire customer segment. For instance, Apple owns all the premium brands seeking customer segments. Similarly, you have to position your brand in this way. This guide includes all the essential factors that can help you position your brand in the market. Brand positioning is far different from just setting up the logo and taglines. Let’s begin the guide to learn more about it !!
Brand Positioning Definition
According to Philip Kotler, Brand Positioning refers to positioning your brand in the customer’s mind. Simply put, a brand has to provide unique value to its customers. It helps them position their unique identity in the market. The value proposition would be why customers prefer your brand over others. Moreover, the brands use the brand positioning strategy to make a particular image in the market. For instance, Apple has set up itself as a premium brand in the whole market.
What is Brand Positioning?
Brand Positioning means defining your brand’s position in the customer’s mind. The positioning sets up your brand perception in a unique way. It associates the customer’s emotions, traits, feelings, and sentiments with the brand. Thus, positioning is an excellent reason customers prefer your brand over others. The company’s positioning is much higher than the taglines, ads, visuals etc.
The separate positioning also helps the brands differentiate their brands in the market. It gives you a competitive edge. The positioning of a brand allows them to be recognized by the customers. Hence, it increases the chances that customers trust your brand and purchase from you. When a brand’s desired goals, identity, vision, and mission gets particular attention in the market, it is called brand positioning. For instance, Apple offers premium and optimized gadgets. People buy even their expensive products because they believe in their products.
Why is Brand Positioning Important?
Brand positioning makes the brand to be remembered for its work. This is the sign that a brand creates history. When you sell your products or services, you build a business. But, when your brand’s name sells your products or services, you position your brand at its highest. Simply put, your brand is positioned as the original or highly considerable in the customer’s mind.
For instance, Coca-Cola started its soda drink company in 1892. After years of hard work, they have successfully set up their brand producing the higher standards of soda drink in the market. Their positioning has helped them to rule the market despite thousands of competitors. Additionally, it is the time of social media and technology; brands take only 1-2 years to position themselves.
The meaning of brand positioning is not to theoretically get the benefit of the brand’s name or position. But it allows you to get various real-life benefits. Let’s look at certain reasons why brand positioning is essential for your business.
Gives You A Competitive Edge
Positioning allows you to differentiate your brand directly from competitors. Thus, it gives you a competitive edge in the market.
Justify Your Prices
The company’s positioning can also help them justify their higher prices. Some of the products are exclusive and a little costly. At that time, brands can utilize their branding positioning and justify their prices to customers.
Provides You A More Creative Look
Customers find various options for purchasing their desired product. At that time, your brand’s positioning shows them with a creative look. It encourages them to purchase the product from your brand.
Gives Your A Unique Personality
Brand positioning meaning often needs to be understood. Brands try to position themselves in any niche. Imagine you try to build your brand position as premium as Apple. Let me know why people wouldn’t prefer to buy Apple products instead of yours. Therefore, brand positioning requires certain unique factors to encourage customers to buy from you.
Makes You Relevant For Customers
The branding positioning process makes your brand highly approachable to customers. Thus, you need to discover certain legit flaws in the competitor’s products. Fulfil those flaws through your brand and enhance brand relevance for your customers.
Increases Your Credibility
Brand positioning passes the actual ethics of your company to the customers. If your ethics are correct, your customers will connect with you and make you more credible. Thus, It will help you win the customer’s trust and make them loyal.
7 Simple Steps To Create a Strong Brand Positioning Strategy
1. Define Your Current Brand Positioning
First, you should focus on defining your current positioning in the market. You might be selling products or have some distinctive positioning in the market. To create your desired position in the market, you should be aware of your current one. Start by understanding your target customers, values, mission, and unique value proposition.
2. Research Your Target Audience
You should have all the essential knowledge regarding your target audience. Understand your product/service and develop your ideal customer persona. It will help you to target the right customers with the right strategies. You should know everything related to your target customers, such as sex, age, location, income, values, interest, lifestyle etc. This information will help you make your products more relevant to your audience.
3. Research Your Competitors
You have deeply researched your brand and your target customers. It is time to catch your direct competitors in the market. You have to analyze the work style, strengths, weaknesses, strategies, and the current position of your competitors. This information will prepare you better for your competition.
4. Create Your Unique Value Proposition
A unique value proposition refers to the unique quality of your brand. It stands you out among all the competitors. This is why customers prefer your brand instead of various other options available in the market. To build a unique identity, you should primarily observe your competitors. After observing them, you will find specific patterns that can help you to develop something in your brand that no other brand offers. Hence, you create your unique value proposition in this way.
5. Define Your Framework For Brand Positioning
A brand has various levels to leave a similar message to position the brand. At this point, the brand positioning framework can help you out. In this framework, you create a similar message at all the points of your business, from top to bottom. It includes the big idea, unique proposition, target customers, mission, voice tone, pitch, message pillar, and sample touchpoints.
6. Prepare Your Brand Positioning Statement
Brand positioning statement refers to a statement that defines “what is branding positioning” of your company. It is an official declaration statement from your company. To create your positioning statement, think thoroughly about four things. It would help if you researched your target customers, product/service category, exclusive benefit of your product/service, and proof of your benefit. This short and simple research will help you create the best brand positioning statement.
7. Evaluation of Your Brand Positioning Strategy
When you’re done creating and implementing your strategy in your company, it is time to analyze your strategic steps and make the required changes keenly. You can utilize honest customer feedback; it will help you make more realistic changes.
3 Real-Life Branding Positioning Examples
Tesla is one of the most innovative and expensive brands. They utilize the value-based experience strategy. It makes the customers use the latest and innovative technology in the market. Simply, Tesla Cars have defined their automobiles differently than other brands. They offer customers electronic, environmentally friendly, and latest technological updated cars. It creates a unique identity in the market.
Starbucks is a great example of brand positioning. They have solely focused on creating quality coffee. They have created a loyal customer base. This strategy has positioned them as a premium brand in the market. Simply, Starbucks is all about experience and royal feeling. People love Starbucks so much because of their marketing strategies. It includes their mastermind marketing strategy, which is the “name of the customer on the coffee.” People posted pictures of the coffee over their social handles, which benefited Starbucks with a million worth of free marketing.
Brand positioning allows the company to rule its segment once set up correctly. You simply need to follow all the steps mentioned in this guide. It will help you successfully set up your brand position in the market. We hope this guide helps you deliver all the essential information.