An upset brand manager contacted the Money Show following an unflattering review of their ad campaign.
Pavlo joined the show to discuss the most fundamental part of any marketing activity – positioning. When the positioning of the brand is not determined from the get-go, then the brand is simply everything to everyone.
Listen to the discussion or read on for a few key takeouts:
It all comes down to what makes your company unique. Not in your opinion, but rather in the opinion of your customers. Not so much in what they say as in what they actually do. In other words, they express their satisfaction with your service or
Why does brand positioning matter?
A well-built business that consistently gets to both the next level of growth and value is one that has been built on clearly articulated, relevant positioning. It enjoys clarity and certainty as to why it exists and how it will grow.
A brand is really a feeling that people who engage with that company have towards that company. And a brand is going to be created by two things.
Looking at a typical food chain store, there are three main components that are going to drive the brand: the consumers, the franchisees, and the employees in the company, and all of them together will form opinions through social media, through engagement with friends, family, and others around what their impressions and experiences are.
The product must solve a problem. That’s its job. But the thing that makes up a product is quite complex because it goes beyond the actual food, its preparation, and all the special ingredients.
A competing brand can replicate this at ease. What really distinguishes the brand is the experience you create for a customer group.
product by using it repeatedly. They tell their family and friends about your business.
Disruption and transformation without purpose are of no value to consumers. It’s clear that the definition of a “disruptor” – and its formula for success in a world of uncertainty, change, and transformation – isn’t black and white. So, what is the secret to success in this continuously changing world?
Flaws in positioning
Almost always, brand managers argue that they are positioning themselves through their product, service, and price.
Product: They argue the merits of their product in terms of its features and benefits. In the case of a food chain, the argument will be based on the taste and the special ingredients that are used for the food, and how their taste sets them apart from everyone else.
Service: many, in fact, most, say it’s their service. By keeping our ears to the ground and listening to our customers, we were able to offer a unique personalised service “bending over backwards to accommodate and please their customers”.
Price: The price debate. Arguing price in such a large market that has many competitors creeping out is baseless. If you are not in a competitive market, then price probably doesn’t matter in any event.