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Brand positioning refers to target consumers reason to buy your brand in preference
to others. It is ensures that all brand activity has a common aim; is guided, directed
and delivered by the brand's benefits/reasons to buy; and it focusses at all points of
contact with the consumer.
Brand positioning must make sure that:
Is it unique/distinctive vs. competitors ?
Is it significant and encouraging to the niche market ?
Is it appropriate to all major geographic markets and businesses ?
Is the proposition validated with unique, appropriate and original products ?
Is it sustainable - can it be delivered constantly across all points of contact with the
consumer ?
Is it helpful for organization to achieve its financial goals ?
In order to create a distinctive place in the market, a niche market has to be carefully
chosen and a differential advantage must be created in their mind. Brand positioning
is a medium through which an organization can portray it's customers what it wants
to achieve for them and what it wants to mean to them. Brand positioning forms
customer's views and opinions
needs. It has an unaided top of mind recall. It intends to stay with the proposition of
"Think Investments, Think Kotak". The positioning you choose for your brand will be
influenced by the competitive stance you want to adopt.
Brand Positioning involves identifying and determining points of similarity and
difference to ascertain the right brand identity and to create a proper brand image.
Brand Positioning is the key of marketing strategy. A strong brand positioning
directs marketing strategy by explaining the brand details, the uniqueness of brand
and it's similarity with the competitive brands, as well as the reasons for buying and
using that specific brand. Positioning is the base for developing and increasing the
required knowledge and perceptions of the customers. It is the single feature that
sets your service apart from your competitors. For instance- Kingfisher stands for
youth and excitement. It represents brand in full flight.
There are various positioning errors, such asUnder positioning- This is a scenario in which the customer's have a blurred and
unclear idea of the brand.
Over positioning- This is a scenario in which the customers have too limited a
awareness of the brand.
Confused positioning- This is a scenario in which the customers have a confused
opinion of the brand.
Double Positioning- This is a scenario in which customers do not accept the claims
of a brand.
Determining Positioning Strategy.
All of us know that it is a complex and difficult task to identify and select
a positioning strategy. Lets us discuss the steps involved in positioning strategy,
there are basically six-step that are adopted. In each of the steps, marketing research
techniques can be employed to get the necessary information. These steps are
discussed as follows:
(1) Identifying the Competitors - A first step is to identify the competition. This step
is not as simple as it seems to be. For example, 'Pepsi ' might define its competitors
as follows:
What role does the product class pay in the customers life style? What really
motivates the customers? And what habits and behavior patterns are relevant?
The segmentation question is, of course, critical. There are various approaches to
segmentation but out of all benefit segmentation is relevant here, which focuses upon
the benefits or attributes that a segment believes to be important. In order to specify
that benefit segments, it is useful to highlight the role of 'ideal object' as a tool.
(5) Making the positioning Decision - The above four steps provide you a useful
backgrounds and are necessary to be conducted before taking any decision about
positioning. The managers can carry these steps or exercises. After these four
exercises, the following guidelines can be offered to reach a positioning decision: (i) An economic analysis should guide the decision.
(ii) Positioning usually implies a segmentation commitment.
(iii) If the advertising is working, the advertiser should stick to
it.
Defining the market in which the product or brand will compete (who the relevant
buyers are)
Identifying the attributes (also called dimensions) that define the product 'space'
Collecting information from a sample of customers about their perceptions of each
product on the relevant attributes
Determine each product's share of mind
Determine each product's current location in the product space
Determine the target market's preferred combination of attributes (referred to as an
ideal vector)
Examine the fit between:
The position of your product
The position of the ideal vector
Position.
The ideal brand positioning strategy will differ for each business. However, there
are ways to achieve a competitive advantage by focusing brand positioning strategies
on the competitor's weaknesses. Pay special attention to the portion of buyers that
rivals ignore or are ill-prepared to serve. Go after the customers of competitors
whose product lacks in quality. Make special sales pitches to customers of existing
competitors. Try to focus on competitors with weak advertising and weak brand
recognition. These offensive brand position strategies can be implemented on an
individual basis or used together for a major competitive offensive strategy.
A positioning strategy is a fundamental part of a company's marketing efforts as it
uses elements of the marketing mix (i.e., product design, price, distribution, and
marketing communications) to influence the consumer's interpretation of its
meaning. Marketers can use many dimensions to carve out a brand's position in the
marketplace. These include:
Lifestyle: Grey Poupon mustard is a "higher-class" condiment.
Price leadership: L'Oral's Noisme brand face cream is sold in upscale beauty shops,
whereas its Plenitude brand is available for one-sixth the price in discount storeseven though both are based on the same chemical formula.
Attributes: Bounty paper towels are "the quicker picker upper."
Product class: The Mazda Miata is a sporty convertible.
Competitors: Northwestern Insurance is "the quiet company."
Occasions: Wrigley's gum is an alternative at times when smoking is not permitted.
Users: Levi's Dockers are targeted primarily to men in their 20s to 40s.
Quality: At Ford, "Quality is job 1."