Brand Positioning – Is It Important For Business? Explained!

What do we do if we have started a new business & want to build a strong brand? We run after making a catchy tagline or logo to attract the customers. But, do you know? they alone can’t do the job? Brand positioning is crucial to hit you brand name in the cutomer’s mind.

To make your business stand out among others, you have to think out what feature you can add to your product to attract the customers’ attention among all other products of a similar category in the market. The feature must make your product or service different from that of the other related products or services offered by other companies in the market.

Therefore, attractiveness of a new business is all about positioning your brand in the market & finding various strategies for it.

Brand Positioning – Definition

Brand positioning may be defined as a method of positioning your brand in your customers’ minds. It’s the strategy that will set your company’s products or services apart from the others. It is said to be effective if the brand after its positioning is perceived as credible, beneficial & favorable by the customers. It carves out a position for you in your customers’ minds.

Brand Positioning – Example

See the position of the popular brands, Band-Aid or Coca-Cola, now! What if you have an injury while playing or working with a knife in your kitchen? A bandage? No! Of course not. You immediately ask your close ones for a Band-Aid.

Similarly, if there is a party in your house & your friends or relatives want some refreshment drink, the first thing that comes to your mind is to visit a store & ask for Coca-Cola. So, have you realized how famous these brands have become?

Today, they have become so renowned that they have taken the place of the whole category to which they belong. Instead of pronouncing the product’s name like a bandage or cold drink, most of us directly pronounce their names such as Band-Aid or Cola-Cola, respectively.

To better understand, you can compare the brand positioning among some companies that sell similar products/services. Compare Bumble & Tinder, Spotify & Apple Music, Target & Walmart, Google Meet & Zoom, Cashapp&Venmo& you will understand everything.

Brand Positioning Strategy – Process

For creating a brand positioning strategy, you have to go through your brand’s every detail & realize how you can give uniqueness to your product or brand by doing something better than the others. And you can establish a brand positioning strategy in the following ways-

1. First, determine your existing brand positioning
2. Then, construct your company’s brand essence chart
3. Find out who are your competitors
4. Perform competitor research
5. Recognize the unique value proposal of your business
6. Design your company’s brand positioning framework
7. Design your company’s brand positioning statement
8. Examine if your company’s brand positioning is working or not
9. Try to solidify the emotional connection between you & your prospects/customers
10. At the time of the sales process, bolster the differentiating qualities of your brand
11. The next step is the creation of value
12. Check out whether customer-facing employees are epitomizing your brand.

Importance Of Brand Positioning Map –

A brand positioning map gives the company’s head the power of perception. It makes you understand your brand’s position in the mind of the clients compared to the other brands. It’s a visual plotting of some selected brands against the others. The map possesses some attributes that are significant for your target clients.

For proper mapping, the best way is to get the map’s multiple versions based on different packs of attributes. By plotting a map, you will understand who’s products are trending more in the market- yours or your competitors’.

In that way, you will also understand the features of those products that are making them competitive among the rest. The values held by your clients are directly linked with your product’s/service’s perception & those brands whose focus is on shared values ultimately gain a victory.

Is Brand Positioning Important For Business?

Yes, brand positioning is significant for making one’s business stand out, especially in today’s competitive market. Today, when competition between different brands & products is so high, being distinct from the competitive products is not the key to succeeding in the market.

What you have to do in this situation is to impart some remarkable features into your products that will automatically attract the attention of the customers & they will leave other company’s products to grab your ones.

Besides, brand positioning plans may also increase one’s reputation in the market & takes control of its brand image. It differentiates a brand or its company from its competitors, which in turn assists in increasing brand awareness of the business, communicating value & justifying the price of the products of such company.

Apart from this, it also makes a brand more creative and shows how it is unique, consistent & relevant to customers. Moreover, brand positioning also shows the credibility of the brand & its products/services.

Now, for an effective brand positioning, what’s most important is making some productive strategies for brand positioning. However, all these policies are not the same, their objectives might be different. Furthermore, your company’s messaging may vary depending on your industry’s nature. The strategies for positioning a brand are of many types & they are:

• Customer service positioning method
• Price-based positioning method
• Differentiation method
• Convenience-based positioning method
• Quality-based positioning method
• The social media positioning method
• Some other positioning methods

Wrapping Up:

You already have comprehended that it is a powerful brand that creates all the difference. So, if your brand is not strong enough to compete in the market, you have to make it strong & powerful. And, what better way can you do it other than planning for a brand positioning.