Brand Positioning MKT 3850 Dr. Don Roy
What is Brand Positioning? • “The place a brand occupies competitively in the minds of consumers.” - Arens, Schaefer, and Weigold, p. 178
More on Brand Positioning • It is part of brand identity actively communicated. • Objective is to create point of difference for your brand in audience’s mind. • Without a clear position, a brand is doomed!
Translating Perceptions to Position Stylish Low Craftsmanship High Craftsmanship Unstylish
Brand Differentiation Points • Being “First” – Not a guarantee of success, but suggests originality • Product Attribute – What would be difficult to imitate? (BMW = performance, Volvo = safety) • Leadership – We’re #1! Market share leader, technology leader, performance leader
Brand Differentiation Points • Heritage – Age or number of years in business • Product Craftsmanship – How it’s made, time needed to make product (slow or fast), components or ingredients used • Being the Latest – Being new can suggest innovation and currency
Brand Differentiation Points • Geographic Origin – Certain geographic areas develop reputation for delivering quality products • Price – Low price is an often used approach, but high price can be used, too (“expensive but worth it”)
Seeing is Believing What is the point of difference of these brands?
Components of a Well-Constructed Positioning Statement • Definition of target market you wish to pursue • Definition of your company’s business • Statement of your point-of-difference and advantage provided by your brand
Example of a Well-Written Positioning Statement “To ( target market), (brand) is the (definition of business) that provides you with (stated point of difference/ key benefit).”
Example: Mountain Dew Positioning Statement “To young, active soft-drink consumers who have little time for sleep, Mountain Dew is the soft drink that gives you more energy than any other brand because it has the highest level of caffeine. With Mountain Dew, you can stay alert and keep going even when you haven’t been able to get a good night’s sleep.” Source: Brian Sternthal and Alice M. Tybout (2001), “Brand Positioning,” in Kellogg on Marketing, D. Iacobucci, ed., New York: Wiley, pp. 31-57.
Closing Thoughts No “one right way” to position Keys to positioning Real Relevant