Brand Positioning refers to the process of creating a unique impression of your products or services in the minds of the customers and the marketplace. It is selling your brands uniqueness from the rest of the competitors in the market, In terms of benefits to users, Service, Packaging, Audience and many other factors. In Simple words Positioning is the unique space a brand occupies in the brains of the customers & make them view your brand in a unique way.
So Many Entrepreneurs start their business with the hope of success. But stats show that only 5% of them survive for 5 years or more. There are many reasons for their failure like Lack of vision, Bad partners, Lack of planning, Hiring of wrong people, Not enough capital and Failure in Brand Positioning. Among all these reasons Brand positioning is one of the major causes of failure.
First step in setting up your Brand’s position is doing Market Research. You need to do identify and analyze the brands in the marketplace that pose a direct competition to your brand. Research is based on the product/ service or say business that, you want to introduce to the market. You need to analyze and understand the brand strengths, price, nature of products and services offered, and fundamentals of the competitive brands. You need to search the factors that make them different and unique in the market and in the minds of the customers. Brand positioning research completes when you get complete knowledge about your target group, exact or similar business in the market and what is the positioning of those businesses.
You also need to understand the need and desire of the consumer, this is the most crucial part for the right positioning of the brand. This way you provide a positive customer experience before and after the sale in order to drive repeat business, enhance customer loyalty and improve business growth. Hence, ultimately help improve positioning of the brand.
The brand positioning message must be very clear and crisp to understand for target group. Message begins by knowing exactly who your customers are and where they’re located. A brand positioning statement explains what your brand does, who you target, and the benefits of your brand. A clear message talks first about the problem your target audience is trying to solve before it presents the solution. Positioning message must answer the most important question, ‘why anybody should buy the product/ service?’ This gives you the chance to define what you do and how you do it differently from your competition.
There are many Examples of great Brand positioning in today’s market –
- Maggi positioning which says 2 mins noodles-This creates sense of convenience in the mind of Customers.
- Brand Paddie- Hair ‘n’ More, where the tagline ‘unisex salon’ is changed to ‘Hair ‘n’ More’ and as a result clients start asking what is more and it made Paddie to sell more services without too much of effort
- Patanjali- They have positioned their brand in a way that people can trust it as being fully organic.
- Axe Deodorant- Every time we hear about girls being attracted by a deodorant, Axe deodorant comes into our mind.
Brand positioning has the ability to add a jetpack to any business provided that the business is a brand. It enables you to build a strong, compelling message around a specific area of expertise that will greatly appeal to a targeted audience in need of your particular products or services. That’s why having a brand positioning strategy is very important in taking your Brand to the next level in this highly crowded and competitive business world.