Positioning in the Marketplace
Brand Builder News from Tanaka Graphics
The concept of brand positioning was first introduced in the late ‘60s by Al Ries and Jack Trout, and to this day, it still remains true. According to their article, “…positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect."
Consumers are inundated with products everyday, and they are branded whether they realize it or not, just based on their purchases. Although you believe your product and brand are the best, to the everyday consumer, you are just another company selling an item on the shelf, so to speak. How you choose to position your company is crucial in the brand-building process. Here are some beginning steps to consider when positioning your company:
What are your attributes? Identify the services or experiences customers can expect to receive from your company that they may not get elsewhere.
Who is your audience? Conduct market research to determine your target market. Your position might just be reaching an audience that has been overlooked before.
How can you stand out? Find a niche; find where you fit in and position yourself as though you were meant to be there all along.
Being able to “out-brand” your competitors is an ongoing process. The position you take should align with your overall brand strategy and be carried out through all aspects of business. Try to position yourself in such a way that consumers will wonder how they ever survived without you.