We all know that customers are the target and the basic plat form for a business to grow. Similarly a business without customers cannot exist for longer times. Business needs branding or brand image to promote the products or services, since the products with best brands shares huge market creating special relationship with customers. Brand will create strong emotional responses based on qualities and features. Brand is considered as the cornerstone or foundation of the business. It is possible to create a brand or brand image for a product or service offered by a business through branding. Then there arise a question about “What is branding?”
Branding
Branding is defined as the set of practices made to win and keep customers. It is about influencing choice. A strong brand gives a clear picture about what is offered in the business and why that is important to customers. Branding a product or service of a business involves different aspects. For example provide the specified facilities promised in the business offer that leads and drives financial returns to the ongoing business to create a brand to the business.
Why Branding
Business needs branding, because branding creates a brand to the product or service offered in a business. It influences the business in many ways. For example Branding creates memorable distinction, difference and convey value of the service or product among the competitors. Branding creates customer recognition and trust, which increases sales and profitability. Branding a product builds brand loyalty to reduce margin erosion and commoditization. It also create a valuable Intellectual property asset when seeking investment or selling a business. Finally branding is expected to create sustainable competitive advantage to the business. Branding should be continued till there exists a relationship between a business and its customers. Because a brand helps the business to stand out in the open market and stand up to the competition. It is a fact that every business needs to have a brand, strong or week. Brand can be created by making consumers understand the qualities of the services and the future vision of the business. Since the ultimate aim of any business is not just the creation of a great brand to the product or service offered in a business. Brand positioning has to be practiced after the process of creating a great brand to the product or service.
How to create strong brand positioning
Since brand positioning is the process of positioning the brand in the customers mind. Brand positioning is also referred to as a strategy, brand strategy or a brand positioning statement. The ultimate aim of the brand positioning is to let the customer associate with the brand identifying specific desirable qualities and features distinct from the rest of the market place. The whole idea behind brand positioning is to identify and attempt to “own” a marketing niche for the brand of the product or service using various strategies including pricing, promotions, distribution, packaging, and competition. Brand positioning occurs whether or not a company is proactive in developing a position, however, if management takes an intelligent, forward-looking approach, it can positively influence its brand positioning in the eyes of targeted customers. It is possible to create strong brand positioning using Positioning Statements versus Taglines.
Brand positioning statements versus taglines
Brand positioning statements are slightly different from company taglines or slogans. Brand positioning statements are for internal use and these statements guide the marketing decisions of the business. A positioning statement helps to make key decisions that affect the customer’s perception about the brand. Similarly a tag line is an external statement used in marketing activities. Tagline expresses insights of the positioning statement. Few of the important things to be practiced to create strong brand positioning in the competitive market are listed as
- Determining the current position of the brand
- Identification of the direct competitors
- Identifying the uniqueness of the product on understanding competitor positioning strategies
- Comparing the status of the current brand position with competitors to develop a distinct and value-based positioning idea
- Crafting a brand positioning statement followed by rigorous test on the efficacy of brand positioning statement.
These are the methods and strategies to be practiced to create strong brand positioning for a product or service in the targeted market.
One thing has to be remembered here that, It is possible to create strong brand positioning with the help of a firm or agency already having a brand image as an expert in similar activities. Saroj Ad creators is such an agency having decades of experience in brand positioning and its strategy development. Saroj Ads not only offers brand positioning services and its strategy development services but also offers tens of such services that promotes a product or service at affordable budgets.