A brand is made up of various strategic components that allow it to function. These components must be serviced and continuously improved for a brand to operate to the best of its ability.
Brand Positioning
Brand positioning is a marketing strategy that helps businesses differentiate themselves from competitors. It is the space that a brand controls in the mind of a customer and how it differentiates itself from competitors.
For example, whenever you ask an elderly member what beverage they want (o batla drinke efe ntate?), in most, if not all instances they’d respond, “O ntlele Coke.” In their minds, the first brand they think of when you say “drink” is Coke. This goes to show that Coca Cola has succeeded in positioning itself in their mind.
There are different types of brand positioning strategies, and each is determined by an organisation’s strategy. As the strategy changes, so should brand positioning strategy.
1. Positioning of high quality
A brand marketing technique that focuses on positioning themselves by quality. Consumers want to know that your products and services are dependable, long-lasting and cost-effective.
An example is Tesla. Their vehicles are expensive, but they are also high-end brands. Therefore, their branding emphasises the quality of their vehicles rather than the price of their vehicles.
2. Positioning based on price or quality
The psychological effect of value is created by a high-priced item whilst the benefits of affordability can be played up by a low-priced item. Marketers could either talk about the low price without compromising the quality or talk about the quality to defend the high price, depending on the strategy.
Choppies, for example, has positioned itself in the minds of its customers by delivering low pricing rather than high prices, as their marketing slogan, “Value for Your Money,” indicates.
As time passes and brand positioning reaches a desirable level, businesses can gradually raise prices and only a few will notice.
Other brands, such as Mercedes-Benz, keep their marketing focused on quality to the point that customers are ready to pay a premium for their vehicles (which is usually rather expensive). “The Best or Nothing” is their slogan, which reflects their positioning strategy.
3. Positioning based on benefit
As one of the most common tactics for selling a brand, benefits positioning is to highlight the best aspects of your products. It responds to the question of how might this product make the lives of customers easier?Sensodyne is an example of a company that uses benefit positioning to position itself as a provider of oral medical solutions. While other toothpastes focus on whitening and bad breath reduction, Sensodyne has focused on the medical elements of oral hygiene, which is a unique feature in the market and has helped them stand out.
4. Positioning based on problem solving
Many brands promote themselves as a solution to their clients’ concerns. The goal of such positioning is to convey that this brand can quickly and effectively solve your concerns.
This method is typically used by banks, insurance companies, and loan providers. Their messaging emphasises how their service addresses a consumer’s financial necessity. FNB’s slogan is “How Can We Help You?,” and Express Credit is “Money When You Need It.” This means that whatever assistance a customer requires, FNB is there to serve, and when you need a little additional cash, Express Credit is there to help.
5. Competition-centric positioning
This approach entails a brand’s positioning in relation to its competitors. The messaging is usually obvious and straightforward and addresses the competition directly. However, some companies may make an indirect reference to them.
This method appeals to mobile phone manufacturers, especially Apple and Samsung. Samsung released an ad in October 2020 mocking Apple for not including a charging brick with the iPhone 12. It was a photo of a charging brick with the text “Included with your Galaxy” on it.
6. Celebrity-driven positioning
Engaging celebrities as ambassadors or endorsing a company’s product or service is another way to position an organisation. You can improve brand awareness and familiarity by associating your company with a well-known figure. This familiarity motivates customers to imitate or follow in the footsteps of the celebrity.
Because of this method, the beauty industry has flourished.
To create an effective positioning strategy, Marketers should:
1. Firstly, identify your niche. What makes your brand different from its competitors.
2. Identify a brand positioning strategy that is aligned with the organisation’s strategy.
3. Determine your target audience. It assists you in narrowing your focus so that you may better serve your customers’ needs.
4. Create a brand positioning statement. A brand positioning statement is a one- or two-sentence statement that summarises what your product or service is, who your target customer is, and what benefit(s) your brand provides.
5. Be Consistent. Your brand’s signature style should be present in all your touch points and marketing messaging.
6. Research. Make sure you’re paying attention to what your customers have to say. This will help create products that are tailored to the needs of individuals who want them, resulting in increased sales. Conduct competitor research as well. If you’re always aware of where you are among your competition, you will be able to position yourself favourably.
7. Continuously strive to improve. Examine the impact of the utilised strategy and the organisation to determine what you excel at and where you fall short.
Brand position is one of the most important aspects of the complete brand architecture and strategy since it communicates the brand’s values, ethos, vision, and foundations. In a world where brands compete on a global basis, having a strong positioning plan is critical to a company’s success.
With one down and six to go, discover out what other aspects of your brand need to be improved in the next article.
The Seven Bs of a Brand Series (Part 1)
