Brand positioning is a vital component of a fantastic branding strategy. Positioning simply describes how your products or services is observed within the minds of prospects and customers in accordance with other services or products obtainable in your niche.
The word positioning has two connotations: a vertical along with a horizontal one. With regards to the vertical connotation, the word refers back to the order by which your products ranks in accordance with these products of the competitors within the minds of the customers inside your industry niche. (For instance, which product one thinks of first when i state the term cola?)
With regards to the horizontal connotation, the word refers back to the characteristics and attributes your products represents within the mind of the customers, again in accordance with your competition.
When you cannot directly control the ranking that your products or services enjoys within the minds of the customers, you are able to influence the way you squeeze product when it comes to characteristics and attributes. That’s, by correctly positioning your products in accordance with your competition within the minds of the customers, you’ll have a lot more control of the way your brand is perceived available on the market. You’ll then effectively possess a guide or map for the way to complete your branding strategy.
Brief Exercise:
Find out the key differentiators of the product. Think about: why would customers purchase from me? Why is my product different? What’s the unique value it adds? Make sure to list a minimum of 4-5 traits that set your products apart making it unique.
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