Brand positioning explains the reasons why your target audience would opt for your brand instead of some others. In essence, it entails that all brand activity serves a common goal. Moreover, it has to drive the brand towards meeting the audience’s reasons why they would buy the product or the benefits they could get from it. Thus, its focus is on the consumers and the brand’s connection with them.
Brand positioning ought to ensure that the brand in question is distinctive and easily distinguishable from the competition. It should serve as an encouragement to the niche market and have significant value to it. Furthermore, it ought to be suitable for all businesses and markets in a certain geographical area and validated with original products that are not only appropriate but also unique.
Of course, brand positioning should also be sustainable and helpful regarding the company’s financial goals. Furthermore, it should boost the organisation’s success and support it now and in the future.
Making a boom in a niche market
Companies have to carefully choose their niche market if they want to stand out among their competitors. For that, brand positioning is meaningful, as it’s a medium they can use to showcase what their organisation stands for. Essentially, a company can use brand positioning to show their customers what they can offer and what the customers can get from their brand. As such, brand positioning can affect customer’s impressions, opinions, and views of a certain brand.
But what does brand positioning actually entail? It usually means creating a brand offer that the customers will notice and value. We can see this in one particular example — Kotak Mahindra.
Kotak is positioned as one entity, a customisable one-stop solution that meets all the financial needs a customer might have. Thus, its position helps the customer remember it easily. Furthermore, it wants to remain on its niche market and draw the attention of more customers. Therefore, Kotak uses a tagline “Think Investments. Think Kotak”. Essentially, the company is telling the customers to think about the brand.
Brand positioning is also linked to the competitive stance you wish to adopt for your company. Moreover, it requires you to determine and identify certain similarities and differences so as to build a proper brand image and strengthen the brand identity. As such, it’s a must for every marketing strategy. In fact, it’s the key factor that drives the strategy by explaining how the brand is unique, its details, and how it’s similar to other brands. What’s more, it provides the consumers with reasons why they should opt for that specific brand instead.
Defining brand positioning
Thus, it’s clearly evident that brand positioning is the basis upon which companies can develop and increase their customers’ perception and knowledge of the brand. It importantly helps them set their products and services apart within the market place.
One good example would be that of Kingfisher. Its brand is related to excitement and youth. Thus, it presents a brand in full flight, and it attracts similarly minded consumers.
Common errors
- Under-positioning – The customer does not really understand what the whole idea of the brand is.
- Over-positioning – Customers have a limited level of brand awareness. The brand is focusing on one or two points of difference instead of focusing on various points.
- Confused positioning – Customers are not sure how they feel about a certain brand.
- Double positioning – Customers are not accepting what the brand is claiming.
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