We don’t live in the ’80s anymore. One cannot decide to start a brand of their own any day and fantasize about earning in the millions after taking the industry by the storm. All because now the dynamics have changed, and the competition has tremendously increased. Now we do not start the queue. We join it.
But even when we are part of the queue, it doesn’t mean we cannot stand out and become the only brand that matters. Even though it takes effort, successful brand positioning is a stepping stone and a must-have if you want to be more than just reach the Top 50s of your industry.
To begin with, let’s hop on the basics, shall we?
What is brand positioning?
When you think of instant noodles, which name first pops into your head? Our guess? Maggi noodles by Nestle. Taking another example, if you are to shop beauty cosmetics online, where do you go? Nykaa.
The reason why these two brands first came to your mind is that they have positioned themselves as a go-to noodles brand and cosmetic shopping brands (respectively) in your head. This is what we call brand positioning.
In other words, brand positioning is the strategy or process to establish your brand name in the customers’ minds and make it their first choice. Your goal must not just be to survive but to be on the top. Taking the same example, you wouldn’t want to be like any other alternative noodle brand.
Successful brand positioning sets you apart from your competitors. It happens when the customer considers your brand to be reliable, valuable, and unique. With this, you might as well have understood the importance of having a brand positioning strategy. So without further ado, we shall dive into the types of brand positioning strategies.
Suggested read: What is Marketing Mix?
Types of brand positioning strategies
Customer service positioning strategy
Imagine this – You want to buy a flower vase, and you find a good option. But there are two alternative sources to buy from – Amazon and the vase brand’s website. Which of the two would you go for? Amazon right?
But why? Because you trust Amazon more than any random home-décor brand. You know that even if the product comes defective, Amazon will do its best to resolve your issue without any hassle. You are certain Amazon will provide excellent customer service.
Taking it further with the same brand, when it comes to customer services, Amazon offers the topmost. In fact, the only reason it has managed to dominate over other E-commerce websites is that it adopted a customer-facing strategy.
This is what is called a customer service brand positioning strategy. Your unique quality as a brand is that you value your customers and believe in providing excellent customer services.
Price-Based brand positioning strategy
If you find two brands offering the same products but at different prices, what would you do? It’s a given that you’d go for a brand that provides the cheaper product.
Thus, customers might choose your brand based on your pricing strategy. However, if you are a newbie, a new brand in the market, your profit margin might be a little low given the heavy manufacturing costs you have to incur. But it might even out if your customers choose your brand because of the low price.
Quality-based brand positioning strategy
Some customers are willing to pay a higher price if a brand provides excellent quality products and services. Thus, if you deliver high-quality services and products, it can be a strategy to go for.
However, the only downside is, these days, all the brands out there opt for a quality-based brand positioning strategy. It is most suited for brands that have been in the run for a long time and have garnered a significant customer base.
So, this might not be an ideal choice for your brand if you are fairly new and have heavy competition in the market. However, if you are still opting for this strategy, it might take you a lot longer to see results because if you deliver the quality your brand promised, customers will come back to you – but it will take time. However, success is not necessarily guaranteed.
Customers do go for products and services that are unique and innovative. One good example of this strategy is Motorola and Samsung.
Talking about the former, back in the 2000s, Motorola’s flip phones were quite a rage because they offered the customers a different experience of using phones. Additionally, talking about the latter example, Samsung happens to be one of the few ones to introduce the first-ever foldable phones.
Although the model is pricey, customers who value technology and innovation still make a go for it. The only downside of it is that brands imitate. Something unique doesn’t always remain unique in the market for long because other brands repeat. In fact, one of the few brands that have made the strategy work includes none other than Tesla.
Ergo, it might be a great strategy, but it does come with challenges. It might not be ideal in the long run unless you keep progressing and offer customers something innovative from time to time.
The final word
Now that you know the different brand positioning strategies, it’s time to position your brand in the market to achieve success. While you are at it, conduct your research, study the market and the customer behaviour before making an informed decision. Decide, and formulate a plan to stand out from the rest. So, what would be your call? Which one would you pick to be your strategy?