What is Brand Positioning?
Brand Positioning can be defined as the positioning strategy of the brand with the goal to create a unique impression in the minds of the customers and at the marketplace. Brand Positioning has to be desirable, specific, clear, and distinctive in nature from the rest of the competitors in the market. Implementing a brand position for your business all begins with a statement. A brand positioning statement is a description of your target market that also includes a holistic picture of how you’d like your brand to be perceived by customers (based on research and data).
Why is Brand Positioning Important?
Brand positioning allows a company to differentiate itself from competitors. This differentiation helps a business increase brand awareness, communicate value, and justify pricing — all of which impact its bottom line. A unique and memorable brand position comes with a long list of advantages. At the top is the reward of being the company people think of first when they want to buy the product you sell. That often takes years, even decades, or the creation of a whole new market (think of brands like Coke, McDonald’s, and Tesla). Even if you can’t achieve that top spot you can still reap the rewards of a strong brand position.