What are markets without brands? Why do you always buy a product from a reputed brand? How do you decide on which brand is trustable and which is not? Most of it depends on the effort taken by a brand to position itself in the market. The better it is perceived, the better is the brand. And all of this is exactly what brand positioning is.It is about creating a unique place for your brand in the market. It is about understanding the market and standing out of the crowd so that the customer may find you.
positioning precedes branding. Branding is all about creating a place in the market and in the consumer’s mind. It is the primary step that creates wants and needs for your product/service in the market for the consumers. Positioning is about necessity. Branding, on the other hand, is not about the need but something more than that. It stands for the name and value of your brand. It stands for what your company/product will provide more. Positioning, in fact, tends to be the first step in branding.
Positioning is all about looking for the sweet spot for your product in the market. And then, effectively targeting it to your consumers. It is about researching the market and finding who and wherein the market your service/products are needed. It is also not wrong to say that positioning helps you find a voice in the crowded market and differentiate yourself from your competitors.
Every brand or organisation that is involved in the market has to position itself. Especially if they want to grow and expand their market share or customer/consumer base. The reason why positioning also applies to hospitals, healthcare providers and healthcare-based companies as well is the same. For a healthcare branding, positioning helps you identify the audience you want and how to deliver them. It also enables you to focus on the features that you need to focus on. Positioning helps you accurately target your customers for the healthcare product/service you sell. A brand with strong positioning helps differentiate it from its rivals. It helps in increasing your revenue and ROI through better awareness and built-up around your brand.
What more would you or any market dependent company, brand or organisation want?
The position of your brand should give a reason to customers select you over your competitors. Having unique features and aspect help, your customers pick you out in the crowded market.
Does Your Brand Have Any Significance for the Market?
The market is a very dynamic place. It only cares for what works efficiently in the system. Any brand that doesn’t work smoothly in the market is either left behind or mercilessly disposed of. For any brand to stay in the market for long, it has to be significant in some way. The brands that encourage the market actually grow and sustain the best.
Does a Position Help Other Local Markets and Make Them Accessible to You?
Present-day market is an interacting field for different businesses. In today’s market, no business is isolated or works in a vacuum. For the brand to stick around in the market, it has to be accessible to local markets and shouldn’t leave a wrong impression on them.
One crucial aspect that you cannot ignore is how this position will help you in reaching the financial target. The position your brand places in the market should help you achieve your business objectives. And this should not just be for the short term, but it should be helpful in the longer run. Also, you have to assess if that market position will help your brand and organisation to meet the financial goals. After all, there is no point in having any place in the market that doesn’t generate the desired revenue.
Positioning can be a very hectic and competitive task. Based on the position, it might need high level of resources, energy and time. Hence based on the place you want to go for, there will brands that you will have to compete. That becomes a futile attempt and a waste of resources if the position doesn’t help your brand grow and sustain in the long term. While positioning your brand, you must see if this position supports your brand to improve consistently. You must place it for a long time.
The whole point of positioning is to create a unique place for yourself in the market. You have to check the market if it itself has the potential for growth and the position you are going for. You must create a distinct advantage for your target consumers to succeed in that position. Remember, your positioning creates the image and opinion of your brands in their heads. It sends the message about what you want to achieve in the market.
1) Positioning based on the current scenario analysis-One effective way you can position is by analysing the current market and understand the market situation and atmosphere. Knowing this will help you know your existing customer and market trends and inform you about their attitude. Based on this data, you can design your brand, product and services and position it. Using which, you can target your customers accordingly.
2) Being Unique:-Another way is by understanding the market and its segments. You can design and create new services or product that create new needs in the market and for the customers. A unique concept equals a unique position for yourself with ease. But make sure it fulfils everyone’s’ needs as doctors, patients and suppliers will all have different needs.
3) Positioning based on growth opportunities:-You can also design your services/products by focusing on the wants and needs of your key investors. Then figure out the needs of the customers and connect them. Compare your position with your competitors and find ways to make your brand unique. This differentiation will help you get distinguished.
4) Positioning based on the name of your brand and products:-Framing and naming your brand by focusing on a unique aspect can help you place yourself in the market. Brand architecture can help you as you can create a unique impression by having a very impacting name and brand. It will help you enter and stay in the mind of your customers.
5) Positioning based on the quality experience:-One of the things that drive customers to the brands is their promise of quality and unique experience. You must define your brand experience, and its unique aspects. You must work on delivering on those promises with consistency. Consistently providing the promised experience and quality will create brand awareness. And doing that, makes it easier for you to cement your market position along with your messaging.
To sum it all, for any effective positioning, you must know your customer needs. How well you understand customer, the market needs and their attitudes defines your place. And how you make the most use of it decides the fate of your brand. Remember, customers always desire the promise of quality and execution of it. And if you as a brand can achieve that goal, you are bound to grow in the long term.Here Are Things You Need to Remember While Positioning Your Brand in the Market: