• Tuesday, April 23, 2024
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BusinessDay

Brand positioning

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In marketing, positioning refers to an organisation’s ability to shape customer perception of its brand or product(s). When we talk about brand positioning, we’re specifically referring to positioning in regard to the brand. Brand positioning strategies can influence consumer loyalty, consumer-based brand equity, willingness to purchase, and more.

A successful brand positioning can differentiate success and failure in a competitive market. To sum up, it’s all about making sure that your target audience knows why they should choose you over other competitors—by creating unique value, messaging, visuals and identity to differentiate yourself from everyone else.

Who are your competitors?

Many entrepreneurs observe their competitors for ideas on brand identity, website design, product offerings, communication strategies, and social media posts. While it may be tempting to simply emulate the competition’s tactics due to their success, the goal should instead be to differentiate oneself from them. To do this effectively, one must assess what options are already available in the market and identify areas that are underserved.
By aligning all communication efforts towards this unified goal, organisations are provided with clarity on how best to build their brands—leading not only to higher revenue but sustainable success over time.

Why is brand positioning important?

It is essential for companies to have a clearly defined brand positioning in order to communicate the value they offer customers. This should be done both internally, through a brand positioning statement, and externally, via various marketing strategies that are in line with the statement. To remain relevant and realistic, the statement should include information about who the customer is and what value proposition is being offered.

Key elements of successful brand positioning

a. A successful brand positioning encompasses several vital elements.
b. It should be focused on the customer and what they need from the brand, as well as how the brand can provide those needs in a unique way.
c. It should also be clear and concise so that customers can easily understand it.

Elements of successful brand positioning

When formulating a positioning strategy for one’s brand, it is essential to consider several key characteristics:

Value

The market position taken and offers made to the audience must be presented in a manner that conveys value and is easily understandable.

Unique

It is best that your positioning strategy is unique. If you enter the market with similar products, services, pricing, quality, or experience as other providers, even the most effective marketing strategies will not be enough to ensure success. In order to be successful, your brand must stand out from the competition and be seen as an obvious choice.

Clear

A clear explanation of how one’s product or service stands out from competitors will help to establish a truly unique stance that has the potential to revolutionize an entire industry.

Deliverable

It is essential to have a strong positioning strategy, as it is the foundation of the entire brand strategy. If there is doubt that the brand’s chosen position cannot be fulfilled, then another option should be considered. Not delivering on the promise of a brand can lead to its rapid demise.

Relevance

Brand positioning is the process of strategically crafting a unique and meaningful identity for your brand in the minds of consumers. It involves understanding your target audience, researching your competitors, and developing a message that will differentiate you from them. It also involves creating an image that resonates with customers, conveying the value of your product or service offering, and communicating how it can solve their problems. Brand positioning should be based on customer insights and a deep understanding of the market landscape to ensure relevancy and appeal to potential customers.

Examples of brand positioning

1. Samsung

Samsung has positioned itself as a leader in innovation, technology, and design. It is for individuals who want a wide variety of high-quality and innovative technology products, Samsung leads the electronics industry.

Its marketing campaigns emphasize the cutting-edge features of its products, reflecting its commitment to innovation and quality. Samsung is known for providing high performance, quality, and affordability while maintaining its focus on technological advancement and design excellence.

Additionally, Samsung positions itself as a brand that has a wide range of products, from smartphones, TVs, home appliances, and other electronic devices, making it a one-stop shop for customers who are looking for a variety of technology products.

2. Pepsi

Pepsi’s brand positioning is centred around the idea of youthful energy, excitement, and fun. Pepsi is for individuals who want a fun, youthful, and refreshing beverage choice, Pepsi leads the soft drink industry with its dynamic and innovative products.

The company’s marketing campaigns often feature celebrities, music, and pop culture, with the goal of appealing to a young, trendy, and active audience. They have positioned itself as a brand that is fun, young, refreshing and energetic. They often associate their brand with pop culture, music, and celebrities. Pepsi also positions itself as a more affordable alternative to Coca-Cola, its main competitor, with a similar taste and similar marketing approach

3. Mercedes-Benz

Mercedes-Benz’s brand positioning is centred around luxury, engineering excellence, and innovation.

It is for individuals who want the best luxury car, Mercedes-Benz leads the automobile industry with its innovative and technologically advanced products. The company’s marketing campaigns often showcase the high-end features and advanced technology of its vehicles, emphasizing the brand’s commitment to engineering excellence and attention to detail. Mercedes-Benz positions itself as a luxury brand, with a focus on high-end materials, craftsmanship, and comfort.

It also positions itself as a brand that stands for performance, safety, and innovation. Additionally, Mercedes Benz positions itself as a status symbol, associated with wealth, success, and prestige.

Last line

Understanding your target market and what they value is essential for creating a successful brand positioning. By understanding the needs of your customers and crafting a message that resonates with them, you can create a strong, differentiated brand that stands out in a crowded market.