The Importance of Brand Positioning
The key to a successful brand is clear positioning. How a brand is perceived by a target market -- relative to the competition -- is vital to both the success of the product and the success of the firm as a whole.
To whet your appetite, consider the brand positioning possibilities of these recently developed brands:
Brand Positioning Framework: Four Steps
Step 1: The first step in brand positioning is defining the market in which the brand will compete. It is critical to develop a clear understanding of the demographic and psychographic characteristics of the target consumer.
Step 2: Next the key attributes and characteristics of the market environment are assessed. This is the stage where competitor analysis is undertaken. It’s critical to learn what it is that your firm and your competitors do well … and where you each fall short.
We have a great article on this topic Strategic Planning for Start-Ups where we apply the principles of strategic planning to small business and delve into the process of internal and external environmental forces that condition the vision, mission, goals, objectives and action plans for a firm.
Step 3: Research is undertaken to ascertain the perceptions of the brand and the perceptions of competitor brands by the target. It is critical at this stage to get a realistic grasp of the perceptions of the brand.
Qualitative and quantitative research methodologies are employed to “get into the head” of the target consumer. It is important to understand their underlying needs, the social context of their wants and a laser-sharp understanding of their attitudes, values and perceptions of the brand.
Step 4: The brand is then positioned to align with salient market variables. The challenge for the firm is to achieve congruity between the brand and the marketplace.—positioning the brand to meet the perceived wants and needs of the target consumer.
What is Brand Management?
The process of brand management is the art and science of creating and maintaining the brand from the very inception through every stage of the product and industry life-cycle.
A strategic plan for the brand is developed and executed for every stage of the life of the product …
Embryonic – Developing and managing the brand while it is just a concept
Introduction – Managing the brand at its launch and early adoption stages
Growth – Steering the brand through the labyrinth of a competitive marketplace
Mature – Managing the brand to increase profitability, innovation and reinvigoration
Decline/Harvest/Reinvigorate – Strategically managing the brand at the end of its life cycle
For large enterprises this process is typically undertaken internally with organizational staff. For small and mid-sized enterprises the brand management process is often outsourced.
Brandings is here to assist you at every stage of the brand management process. Call Brandings Client Service Team today at 1-800-852-8900 (international callers 1-310-246-5100) or simply click here to contact our office via e-mail: info@brandings.com
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New Brands With Significant Positioning Potential:
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Whatever your new business needs, we are here to help. Call Brandings Client Service Team today at 1-800-852-8900 (Toll Free USA) +1-310-246-5100 (Worldwide) or simply click here to contact our office via e-mail: info@brandings.com
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