Brand positioning is key to the marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of the brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand.
It can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customer’s mind. Brand positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image.
Brand repositioning refers to the major change in positioning for the brand. To successfully reposition a product, the firm has to change the target market’s understanding of the product. This is sometimes a challenge, particularly for well-established or strongly branded products.
It is basically “implementing a major change” in the preception of the product. It is the task of implementing a major change in the target market’s perception of the product’s key benefits and features, relative to the offerings of competitive products.
Benefits to a Company :
Benefits of Positioning and Repositioning of a brand is beneficial for a firm because of the following reasons :
- A brand can not be ‘Everything to Everyone’.
- Positioning connects the brand with the target market.
- Through positioning, the brand seeks a locus in the consumer’s mind.
1. A brand can not be ‘Everything to Everyone’ :
The benefit for positioning arises because a brand cannot be ‘everything to everyone’ and that it has to be something to some segment. Normally, some unique features of the brand, some special needs or some noticeable gap in competing for offers.is picked up and the brand is positioned around them in a manner appropriate for the target audience.
Identifying such features and using them imaginatively to create a brand is the essence of positioning. Brands are positioned in different ways depending on what they have to offer and to whom they are offered. some brands may be positioned for a highly well-to-do segment and some may be positioned for fun-loving youth. Brands can be positioned on claims of luxury, distinctiveness, uniqueness, novelty, etc.
2. Positioning connects the brand with the target market :
While target market selection clarifies for whom the brand is intended and the marketing mix shows the way in which 4Ps are to be aligned in the offer to the market, positioning acts as the bridge between the brand and the target market.
3. Through positioning, the brand seeks a locus in the Consumer’s Mind :
In positioning, the consumer’s mind is viewed as a geometric perceptual space, with different product categories and brands occupying a certain position therein. These positions held by-products/brands change as the available space is taken by new products/brands. How to secure a position in this perceptual space within the consumer’s mind and how to retain it, is answered through positioning. Through which prepositions can a firm secure the right position? Where lies the gap in the mind?
Is it possible to replace a competing brand position in the consumer’s mind by offering a better value proposition? By analyzing the above questions, positioning can be done in consumers’ minds through several routes preposition like a firm may seek a position by placing its brand against another ongoing brand or it may place it against certain expectations the consumer nurtures.
By positioning the firms to try to create a perception of their brand in a particular way. Firms launch the brand to a particular projector in the consumer’s mind. The consumer has a frame of reference as far as the given brand is concerned and he will evaluate any new offer against this reference positioning helps marketers to analyze that within this frame of reference, where do they want their brand to fit it.