Suppose you want to have a cold drink. What do you ask for? Coke, isn’t it? Taking the most common example, suppose you want to search for something. Where will you go first? Google, exactly.
Through these years, companies like Google, Coca-Cola, etc. have built their brand image in such a way that no matter what, their company names will be the first ones to pop up in their consumers’ minds whenever they want related products. Within all these years, Google and Coca-Cola have held on to their brand positions in this competitive market.
Brand position in the market is the influence that a brand has on its influencers. Brand positioning helps businesses to create brand awareness, know the target audience, and improve the brands’ image. In today’s article, we will learn about positioning in marketing, its types, benefits, and some amazing brand positioning strategies in the market.
What is Positioning in Marketing?
The strategic process of creating a unique image and perception of a product or brand in the minds of consumers in relation to competitors is called positioning in marketing. This entails the development of a unique value proposition that resonates with and distinguishes the product or brand in the minds of the third parties through the above-mentioned value process of product positioning.
It directs the communication of attributes, benefits, and deep-seated emotions that reflect the importance and superiority of the offering. Positioning creates influence through strategic brand messaging and communication channels, impacting consumer perceptions, preferences, and purchasing decisions and contributing to a sustainable competitive edge and business success.
Types of Positioning in Marketing
Now that you are acquainted with what positioning in marketing is, it is time to get introduced to the various types of market positioning strategies. In this highly competitive market, standing out of the crowd is becoming very difficult with every passing day, which is why brand owners have to come up with multiple strategies to create a brand position in the market. But before moving to strategies, you need to learn about the types of sectors which you can choose to create your brand position for.
1. Pricing Positioning
As we know, customers are always bothered about product prices. Low prices attract the majority of the crowd, but in return, as a brand, you need to give them the quality for the same. To create a position in the market with your product or service prices, you need to be as affordable as you can. When you are conducting a business, product pricing is the most crucial decision to make. In this type, brands that offer the best at affordable prices win the game.
Before shaping any pricing strategy, conduct thorough market research and analyze your competitors’ prices and their product or service quality. Initially, you might be trading some losses, but with proper groundwork for your brand, it will be easier to hike prices.
Best Brand Example: This is best displayed as market positioning by Apple Inc. for the target market of high-end customers with a product quality in the technological market.
2. Customer Service Positioning
With the rise in the eCommerce market, where customers enjoy the facility to shop 24/7, the need for customer support has also increased. If you are offering premium products at a bit higher price than others, and customers appreciate your products, but if you do not offer them proper customer services, then you might lose your valuable customers within no time.
A lot of things go with customer service positioning, like giving them live chat support for quick response queries, SMS notifications about their order updates, etc. By offering them all these services and increasing their user experience, you can not only gain more customer audience, but your brand will also gain more customer loyalty.
Best Brand Example: Zappos, in the online area of shoes and clothing, has managed to build a brand based on outstanding customer services.
3. Convenience Positioning
This type of positioning concerns the relative ease and convenience of use and access to products and services. This falling rightly into place as per the wishes of the modern consumer who always longs for efficiency and simplicity in life. It emphasizes accessibility, ease of purchase, quick service, and hassle-free user experience.
Brands using convenience positioning usually optimise distribution channels, take orders online, provide swift delivery services, and optimize the buying process through services such as mobile apps or self-checkout systems.
The successful execution of a convenience positioning strategy requires a complete understanding of target audience preferences and a commitment to delivering seamlessness and time-saving solutions.
Best Brand Example: Amazon, has won this game by offering the best of convenience to its users, from one-day delivery to Amazon Prime for paid entertainment and Amazon MiniTV for the free ones.
4. Differentiation Positioning
Positioning is a differentiation that aims to keep in mind that a customer is ever in search of a distinct product. Differentiation positioning is a marketing strategy where a company concentrates on showcasing the unique characteristics or features of a product or brand that differentiate it from competing brands in the market.
Differentiation can be based on the factors of product features, quality, price, design, customer service, or brand image. It enables a company to pass specific messages about points of difference through marketing channels that are capable of attracting customers in need of certain benefits or experiences that cannot be obtained from competition.
Successful differentiation positioning establishes brand loyalty, strengthens customer relationships, and ultimately adds composite value to competitive differentiation and long-term success in the marketplace.
Best Brand Example: Apple Inc. has won the race for the best high-tech products: the most stylish designs, user-friendly interfaces, and innovative technology. It has always been an organization focused on providing products that are well equipped with unique features and functionalities.
5. User Group Positioning
User group positioning refers to marketing the product or service to sell it to certain specified consumer segments with needs, wants, characteristics, or empathy.
Identifying user groups according to target demographics, psychographics, or behaviors, which are used to establish marketing messages, features, and benefits that will speak to each individual group.
Knowing what makes different user groups respond can further lead to a positioning of offering to be perceived as solutions by addressing the specific needs of each segment. This gives the brand relevance, and with time, market success will follow.
Best Brand Example: Johnson & Johnson is the best example of what in marketing, a user group positioned it-the, target user groups with infants and also obtain an impressive wide range of baby products.
6. Quality Positioning
Quality positioning is a position taken on by a brand in marketing to be perceived as a seller of high-quality products in the market, which is basically a way of communicating what the brand stands for (it is also perceived in the market) commitment to excellence, reliability, and performance relative to others.
Effective quality positioning should include such essential attributes as durability, craftsmanship, innovation, and customer satisfaction. It will allow the brand to be positioned differently than other brands in the market and to be able to charge a premium price, to be loyal, and to build long-term trust.
Best Brand Example: Rolex has established itself as a symbol of luxury, precision, and craftsmanship. Through meticulous attention to detail and exceptional materials, Rolex has positioned itself as a prestigious and reliable brand in the watch industry.
Benefits of Positioning in Marketing
1. Strong Competitive Position
Once your brand has created its position in the market, this position will influence your customers and will make them choose your brand over your competitors. With this, you can also get the benefit of holding onto your current market position and win over your competitors.
2. Sales Growth
The clear and compelling positioning strategies affect consumer preferences, loyalty, and advocacy, thus leading to increased sales and market share for the company.
3. Well-Defined Target Market
Positioning allows a company to target specific consumer segments that match its offerings, allowing for a better marketing effort and higher conversion rates.
4. Customer Loyalty
Consistent positioning ensures customer trust and loyalty will arise since they associate the brand with certain values, qualities, or benefits, therefore ensuring future buys and long-term relationships.
5. Competitive Advantage
Good positioning can yield a sustainable competitive advantage by nurturing strong brand identity and perception against which no imitative move will be helpful.
Strategies to Create Brand Position in the Market
1. Understand Your Current Brand Position
Before building any brand positioning strategy, know your brand’s current status in the market. Your current brand position analytics will guide you on where to go next and what move to make to create a strategy.
Keep in note specific answers to questions like;
- What is so unique about your brand?
- What does your brand stand for?
- What is your brand’s aim?
- How can your product/service solve your customers’ problems?
With all this information, you can easily know your position in the market and curate strategies further.
2. Competitors’ Analysis
Once you have got to know about your brand’s current position in the market, analyze your competitors’ position and the strategies they have used so far to be in that position. Doing this will help you shape your brand positioning strategies that will be beneficial for your brand.
Conduct a quick market research using brand-relevant keywords and check which of your competitors’ keywords are ranking. You can also opt to ask for your customers’ feedback because, in the end, not every customer group is the same. Leveraging social media can help you collect customers’ feedback easily.
After completing this initial competitors’ analysis, you can move to conduct in-depth research about your and your competitors’ business goals, what’s the difference between your products/services, what are your strengths and weaknesses, etc.
3. Develop a unique Position
Creating a brand position is all about telling your customers about your brand products’ uniqueness and how they will benefit them in a better way. As we discussed above point, competitor analysis helps you identify your brand’s weaknesses and strengths, and it can also help you learn that your competitors’ weaknesses are your strengths and maybe your competitors’ strengths are your weaknesses.
This can be for a reason such as higher quality, innovative features, good service, or even emotional appeal. It is not being different, but being relevant and of value to the target audience. A clear, unique position forms the basis for a solid brand identity that makes the product easier for customers to recall and buy over its competition.
4. Create a Positioning Statement
A positioning statement sums up how your brand or product uniquely meets the needs of the target market in a way that is different from how a competitor might. The positioning statement clearly describes the target audience, key benefit, and reason that a customer would believe in that benefit. It stands as a guiding light through which all marketing communications are built to ensure consistency and clarity in the presentation of a brand.
5. Create an Attractive Tagline
A tagline is a punchy phrase that captures the very essence of a brand or product, giving it some kind of distinction from competition. A great tagline resonates with people’s psyche, helping in remembering and recognizing. It becomes part of the leasing identity itself, sometimes encompassing the brand personality, values, or the experience it promises to deliver.
Some of the best examples of this include McDonald’s “I’m Lovin’ It” and Nike’s “Just Do It.” Hence, a tagline not just features as a marketing instrument, it’s a final-story that builds a picture in the consumer’s eye and experience of the brand.
6. Adaptive to Market Changes
Consumer behavior and market trends keep on changing frequently. A product that is trending today will be long forgotten. Hence, you need to be adaptive to every market change. Successful brands are those that effectively adapt to the changes around them. This requires ongoing market research and a willingness to pivot or tweak the positioning strategy as needed.
Regularly soliciting customer feedback and evaluating the effectiveness of your positioning strategy is essential. This can be done through surveys, focus groups, or analyzing customer data. Feedback provides insights into how well the positioning resonates with the target audience and can guide future adjustments.
You might also like – Guide to How to Build Brand Recognition
Final Verdict
We could very easily conclude from this informative article that creating a brand positioning is not a one-night thing and that positioning in marketing is challenging and takes some time, effort, and sometimes turning down some opportunities. It’s essential, particularly when trying to generate steady income, attract new customers, and keep existing ones.
Positioning helps draw potential customers, skilled employees, and influential people to your business, making it a worthwhile investment. This guide aims to assist you in developing an effective positioning strategy.
If you are finding any difficulty in creating a brand strategy, kindly contact us, and our digital marketing experts will assist you throughout your entire brand positioning process.
