Being a marketer or an entrepreneur, the concept of brand positioning is vital. This concept is key to create a powerful brand. The concept of brand positioning is to reach the target audience and offer the most. It describes how a brand is different from its other competitors. Also, it is responsible to create a distinct place in the market. So, brand positioning is a strategy that involves creating a brand’s distinct place in the customer’s mind. This will make them perceive the brand in a specific and unique way.
Importance of brand positioning
The brand positioning shapes customer preferences. And it has a direct link to customer loyalty and customer-based brand equity. Also, it creates a willingness to purchase the brand. It influences the customer’s attitude towards the brand. The effectiveness of brand positioning can be measured as per their preference for the brand. It refers to the extent to which the brand is favoured over others in terms of uniqueness and credibility.
There are many brands of the same kind out there in the market. They all offer the same products as you do. Then in order to gain more customers and increase your reach. You have to use a wise marketing strategy that can influence the customers. The brand positioning is an amazing tool to do so. But the hardest thing is to maintain and sustain the position in the market. So, it needs to revise from time to time. The concept is to strike on a customer’s minds and create a unique position for the brand.
You can achieve the brand positioning to succeed in a few steps. In this article, you will find some useful tips while the brand positioning strategy.
- Analyse the brand and target market: Firstly, make sure that you know your target audience. It is important to invest to reach the correct audience. Because this will help you reach the customers that are interested in your brand. So, to create a unique and successful brand positioning you must analyse the following.
- Understand what your customers are seeking. After reaching your target audience you need to strike on what they are looking for.
- You need to highlight the brand’s uniqueness and capabilities to stand different and appealing in the market.
- Make sure that do proper research on your competitors. And compare your offers with that of theirs. So, you can make improvements to your brand, if any.
- Positioning statement: Now after analysing the customers and brand you will require a positioning statement. The positioning statement needs to be attractive so that:
- It can resonate with your customers.
- Your company can deliver it out elegantly to seek the attention of the customers.
- It highlights the uniqueness and distinct qualities of your product.
One of the most effective ways to choose a positioning statement is to describe your brand in three to four words. So, you can choose some catchy three words tag that best suits your brand. This will conclude the purpose and quality of your brand. Also, it will catch the eye of the customer and compel them to buy.
- Highlighting brand positioning: After deciding the catchy positioning statement, it is important to reach maximum customers. So, you will require to reflect the brand positioning to the customers. This can be done through packaging design, product, service, communication, etc.
Apart from all this, it is very crucial to choose the correct price for your products and services. So, make sure that the price you charge is not more than that of your competitors. Because a much higher price will attract only a few customers.
However, you have to be consistent with the brand positioning strategy. So, make sure to aware of the customers if you make any changes.