Crafting the brand positioning
4 important questions on Crafting the brand positioning
Three variables should be monitored to analyze potential threats
- Share of market: competitors share of target market
- Share of mind: % customers that named competitor after statement: 'name the first company that comes to mind in this industry'
- Share of heart: % customer that named competitor after statement: 'name the company from which you prefer to buy'
Alternative approaches to positioning (3)
- Brand narratives and storytelling: framework for a brand story -> setting time place context, cast the brand as character
- Brand journalism
- Cultural branding
3 main ways to convey a brand's category membership
- announcing category benefits
- comparing to exemplars
- relying on the product descriptor
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Positioning and branding for a small business (8)
- Find a compelling product or service performance advantage
- Focus on building one or two strong brands based on one or two key associations
- Encourage product or service trial in any way possible
- Develop cohesive digital strategy to make the brand 'bigger and better'
- Create buzz and a loyal brand community
- Employ a well-integrated set of brand elements
- Leverage as many secondary associations as possible
- Creatively conduct low-cost marketing research
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