If we look at the following examples — GE has always positioned itself as a Company thus, they have built a brand GE; Nivea has been positioned as a Product; it does not speak about where it belongs to or which company. They are able to manage better relations with their customers when they interact with them personally. If there is consistency and continuity, one can gain a competitive advantage just by recognizing the realities of his competitors. This may induce trial but, does not succeed in the long run. On dimensions like image, distribution and physical design, it can provide strong competitive advantages in product categories where most alternatives provide the same benefits. While these and other elements combine to contribute to your brand positioning, they are not the foundation. Being the first product of its kind sold in a channel of distribution can cause people to perceive it differently. Branding informs customers about the quality and features of the company’s products and differentiates it from other competitors. Good brand of a company helps it in getting new customers. This is often an expensive affair for the companies but they knowingly choose this method of splurging because of the fact of familiarity and popularity of the celebrity. It has an unaided top of mind recall. Connecting Product Offerings with Target Market: Target market helps the firm to identify the class/category of people for whom a product is meant for. ii. One can often discover how a competitor is positioned by analyzing its print advertisement and website. As we might expect, for many products, a wide variety of attributes or product benefits may be considered – most if not all of which are important. An example would be, in 2017 iPhone X was launched with the notch in the mobile for the first time in the industry. However, conducting research may provide only limited input; in that case, the marketing manager must make some subjective judgment. The answer of above questions help marketers to recognise the market place, the competition and the customer perceptions on which they can position the new offers successfully. For example, ‘The Indian Express’ launched the financial paper ‘Financial Express’ but, it could not generate desired readership, as the customers could not understand what it stood for. The value of the brand, above and beyond the cumulative physical attributes of the product itself, represents brand equity. Consumers are asked to take part in focus groups and/or complete surveys indicating which attributes are considered important to them in their purchase decisions. Concept 5. Positioning explains to the customer about the brand. For example, Maruti when they first launched Alto they positioned it as ‘The hottest car in the town’. But some companies feel they have to sell to everyone, and often fail to communicate effectively with the ultimate decision-maker. Richard Branson is a good example of positioning on people. The messages are usually straight, clear and address the competition directly although some may- use an indirect reference to their competitors. A brand is a company name that labels a product or family of products and carries a distinct position in the minds of customers. For example, Rolls Royce only uses PR for its brand. History of Brand Positioning 2. So if there is any quality issue and fault with their products, customers support them in their hard times. It was relaunched as ‘germ-kill’ soap which saw acceptability in the market place. Consumers also have sweet spots. A brand can be positioned in several ways- offering a specific benefit, targeting a specific segment, price or distribution. Advantages & Disadvantages of Branding. Through branding, the business develops a good position in the market. 2. As the competition started increasing it changed its positioning to ‘World’s most Preferred Card’ (1993). The more finely segmented the market, the more likely that the firm will be able to implement marketing programs that meet the needs of consumers in any one segment. This mode will help to know how farther the business has gone and where it exactly reach in the competitive market. 1. From the above definition it can be inferred that: i. At the same time, marketing mix helps the firm to identify the combination of 4 P’s to be alligned in the product offer for a target market. Such a decision is not always clear and well defined. This will really make the product to get under the exclusive category and it is a great thing to make the brand or product a renowned name in any industry or market. Advantages & Disadvantages of Branding. Once the consumers know the brand, they can relate with it in a better way. The sweet spot is the place in the target person’s mind where you make the connection between a consumer’s insight and the product or brand insight. In case of any mishaps, they are able to handle it easily. Sensodyne is an example which uses benefit positioning and today is a premium toothpaste in the market of oral dentistry and oral hygiene. Brands can challenge the competition by strong positioning statements. After tracking the positioning it was changed from a sophisticated, aristocratic product to one that is functional and relevant to the Indian housewife. In other words, you seek to build and maintain brand loyalty. The brand is also embarking on the mobile media space which would be the next key driver in the brand communication strategy. Rosser Reeves propounded 1950s as the year of ‘USP’ (Unique Selling Proposition). Every business in the market nowadays is trying to establish quality and its commitment to maintain it. Product positioning involves defining a relative position in the marketplace. iv. If the business wants to make its services or products to gain the category of brands, it should make them accessible to people in a way that they start recognising the brand name by the products or services it offer. When your marketing or communications idea hits that sweet spot, your sales will go flying. Brand Positioning – Why Companies are Embracing Positioning? The process of positioning takes the form of following stages: This step requires broad thinking. Though metro sexual they are shown to be grounded in their values and culture. Brand positioning is an essential element of a winning branding strategy. Stage # 4. What position does the firm want to own, i.e., looking for positions or holes in the market place? Much of marketing firm’s research is directed at making such determinations. Positioning can be done on various platforms; it can be the company, a product, people or the entire portfolio. A reputed business has a good image in the market. There are two things involved in any positioning strategy; the type of position a brand wants to take and the positioning strategy. The uniqueness refers to Rational Appeal (BAF- Benefits, Attributes, and Features). The customers in that segment should be able to relate to the brand by positioning it appropriately. The term brand positioning has two connotations – a vertical and a horizontal one. Why is there are expensive brand positioning themselves as unique and niche, the appeal to a very limited segment of customers who can afford to purchase them? It is a good idea to become familiar with the competitor’s messages in other marketing communication, such as direct marketing pieces, brochures, press announcements, and tradeshow materials. Strong brands are able to survive during the time of crisis. The brand positioning will continue to be the base of developing a strong brand. Process 11. 4. While they may compromise on the quality sometimes, the fact still remains that they are seen as the first choice by every first-time flight travelers who cannot afford to travel by a luxury brand like American airlines. This is normally done through various marketing and communication approaches, including advertising and public relations. As much as quality plays an important role in the product success price is an equally important factor which determines the enormity of success of a particular brand.