What is Brand Value ?
Branding has emerged as a corporate strategy in the recent times. All business organizations in all sectors have embraced the strategy of building their identity through their corporate brands besides the product related brands. Branding is definitely a marketing strategy. However the strategy of investing into brand building and managing the reputation of the corporate […]
Product Leadership through Operational Excellence
In the fast changing and highly competitive world, building brands and maintaining brand leadership calls for an uncanny ability to re-write the rules of marketing as well as business. From each of the market leaders be it in computers, electronics, fashion, retail or any industry, one can identify the overall strategy that has made them […]
Business Strategies to Beat the Downturn
Introduction: The Effect of the Downturn and How Companies Can Cope The ongoing global economic crisis has impacted most of the companies in the world as they have to not only reckon with falling sales, stagnating demand, oversupply, and inflation all at the same time mean that businesses are operating in “chaotic” and “uncertain” environments. […]
Building Strong Brand Equity
Strategic brand management’s goal is to develop strong consumer based brand equity. To reach these goal companies have to design and execute well thought marketing programs. However, task does not end at executing marketing programs, companies to have to construct brand equity measurement system to understand the impact of on consumer mind. One thing to […]
Definition of International Retailing
Ever since International Retailing started getting recognition in the industry, several academicians as well as Industry experts have tried to come up with exact definition. The attempt to define International Retailing raised a legitimate question as to what exactly the retailers were internationalizing. Unless the correct fact was established, there could be no right definition. […]
Brand positioning refers to “target consumer’s” 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:
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.
Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customer’s mind.
For instance-Kotak Mahindra positions itself in the customer’s mind as one entity - “Kotak ” - which can provide customized and one-stop solution for all their financial services 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 as-
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