What is branding?
Branding in simple words is creating a unique memorable identity through behavior, habits and qualities. Creating a particular perception or an inbound attitude of the brand in the mind of your customer.
What do you mean by brand positioning?
Brand positioning means positioning your identity or brand in a different and unique way. So that people will always remember you for those specific reasons having some unique qualities, habits and nature of behavior that is bound to have only with you, your product or your service.
What are different types of brand positioning strategies?
Brand positioning is the process of positioning your brand in the mind of your customers. Different strategies can be applied to represent your brand in a unique way, which is different than your competitors.
For example a unique Logo, creative approach of product, unique packaging technique and so on.
The strategy should never be based on price tags, similar looking design, logo or Art.
Today I was going through my mails, one of the mails caught my attention. This mail is from one of my students named Shashank. Shashank is a 34 years old business man. He has a small startup business, which is run and handled by 5 members in partnership.
Shashank is married having one son of 7year old son. He lives in Mumbai city. His business constitute of providing service of cleaning of electronic home appliances.
They take order of cleaning one or more home appliances as per the requirement of the client taking into consideration the availability of number of workers needed for the job.
He wrote that, previously there was no competition in his business. Now, since there was vast increase in working population the demand for their business too increased.
This resulted in many people starting the home cleaning, home appliances cleaning and electronic appliances cleaning business. Which obviously was hampering his business growth.
Thus, he asked me to give some tips that he found helpful for him to bring his business up. I am going to share the same things I shared with Shashank here for he found it very useful to grow his business.
Why is it necessary to do Brand positioning?
Brand positioning is necessary because we need a unique identity of our brand that outstand in the crowd of competition.
We need to understand that each individual has his/her own perception and view about a particular brand that comes from their cultural aspects, traditional approach, by word of mouth from people around, past experience of other product or service of that brand.
How important is Repositioning of the same Brand?
Repositioning of brand is as important as brand positioning.
This is because many companies try to copy, replicate the criteria used by one or other company for branding.
They just add that same criteria to upscale their own business too, thereby creating a large number of dummies. This doesn’t work for long so this hamper their growth.
When customer sees a large number of companies bidding for same aspect or feature in their product or service too.
They either search for a unique branding aspect by a business, if the product or service they are buying has an important value addition aspect in their lifestyle.
Otherwise they just pick any brand product or service if it is not bringing any value addition in their lifestyle no matter whichever product or service they use.
On the other hand, if the business entity decide to reposition their brand based on principle purpose of their business and follow this principle in every aspects of the business then they have higher chances of regaining the trust of their customers.
Hence Repositioning brand specifying the unique value, the business is providing through its product or service is very important to attract the customers back.
What are the Brand Positioning Strategies?
Applying unique strategy which is in alignment with the principle purpose of business that impart value to the lifestyle of customer is called brand positioning strategy.
|Nike||“For serious athletes, Nike gives confidence that provides the perfect shoe for every sport”. This positioning statement from Nike is simple, direct, and tangible.|
|Apple||For individuals who want the best personal computer or mobile device, Apple leads the technology industry with the most innovative products|
|Amazon||Our vision is to be earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.|
|Toyota||The Toyota brand thinks big. The brand is motivated by technological innovation and believe in doing better. Hence having continues new models. Provides for a broad market form low income corolla to the Luxurious Lexus|
Here is Toyota’s brand positioning in a nutshell:
These are the various aspects we need to take into consideration for a Good Brand positioning:
In this Graphical representation we come to know how customer perception plays an important part on their purchase intention far more than their need for quality of product:
What is the process of brand positioning?
In order to identify the unique qualities of your brand based on which we can amalgamate brand positioning statement. What differentiate you from your competitor?
There are 7 key steps for Brand positioning strategy process that is vital for the growth of any type of business.
- Determine how your brand is currently positioning itself.
- Identify all your direct competitors.
- Understand how each competitor is positioning their brand.
- Compare your positioning to your competitors to identify the gaps which can become opportunity for your uniqueness.
- Develop a distinct value- adding positioning idea.
- Craft a value based unique brand positioning statement after checking the efficacy.
- Test the efficiency of your brand positioning statement by doing SWOT analysis of not only your brand statement but also of your competitor.
How to craft a brand positioning statement?
Here are 4 essential elements to take into consideration for crafting a a Good brand positioning statement:
- Target customer: Take into consideration the results of demographic as well as attitude or perception of your target customer from a recent survey done.
- Market definition: Identify the aspects of your product that are having same or lower quality than your product as well as the aspects in which your product is better than your competitor. Now, ask how important are these positive aspects important to your target customer?
- Brand promise: Identify the compelling (emotional as well as rational) value your product has over the competitor.
- Reason to believe: Search for a compelling evidence that you can present to your target customer that is appealing to your customer.
After thoroughly going through these four steps you are prepared to craft your brand positioning statement.
What is the objective of Brand positioning?
The main objective of brand positioning is to integrate your brand position in your target customer’s mind. Though it looks very simple it is not so easy.
To get into the mind of your customer you need to follow the same principle or code of honor in each level of your business hierarchy in all the departments not only in production and sales but also in legal accounts and HR departments too. This doesn’t stop within the organization these principle need to be followed in marketing and branding, it also includes the approach towards the customer.
The principle based values if observed in each and every hierarchy of the business entity, by the target customer in his/her past experience of the product or service obtained of the same business entity or even heard by word of mouth from someone they trust. Then, this creates a perception in the mind of that customer about authenticity and reliability of the products of your organization.
Thus, the principle purpose, vision or mission of any business entity should always be in alignment with its code of conduct or behavior and marketing, in other words they need to, “walk their talk”.
Since, this principle is lacking in many business entities their growth too is hampered.
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