Positioning means creating an image or identity in the minds of their target market for its product brand similarly re-positioning involves changing the identity of a product, relative to the identity of competing products, in the collective minds of the target market; whereas de-positioning involves attempting to change the identity of competing products, relative to the identity of your own product, in the collective minds of the target market.
The efforts that marketers put in positioning efforts appear in relation to other products in the market; thus ensuring that all brand activity is focused along with a consistent approach. One also ensures that brand has got a unique identity that is distinctive in the market that sustains for a longer time in the market thus ultimately helping the organization to achieve their financial goals. The perception of a brand can be influenced by marketer through positioning efforts.
But what you need to do is accurately define the market for your brand and analyze the attributes of competitors; sometimes it does become difficult to distinguish between your brand and others in the market to design the right identity and image.
The major positioning types include:
Targeting the marketing efforts to specific market segments such demographic, geographic, ethnic, or economic. If you want to be successful in targeting you have to prove your brand as superior over others.
If you are in a market wherein along with your brand there exists another brand that is stronger than you then your positioning efforts will not be enough you also need more number of supporters to support and appreciate your brand.
The pricing that you decide for your product can help you in creating awareness in the market for your brand. It is said that profits that you earn by this type of positioning strategy is enormous.
You can tap a sales channel that is not tapped by any of the competitors in the market segment thus establishing a unique channel for sales.
There are various positioning errors, such as-
Under positioning- This is a scenario in which the customer’s have a blurred and unclear idea of the brand.
Over positioning- This is a scenario in which the customers have too limited a awareness of the brand.
Confused positioning- This is a scenario in which the customers have a confused opinion of the brand.
Double Positioning- This is a scenario in which customers do not accept the claims of a brand.
The core of the session focused on competitive brand positioning – what is it, why is it important, how do you develop one. Without a competitive brand positioning, your brand might only remain a conceptual vision or a set of cultural values which sound great but don’t really make a difference in the marketplace. A meaningful, powerful, valuable brand is based a clear, crisp articulation of your competitive strategy.