Benefits of Brand Positioning

Benefits of pit plentyPositioning is what you stand for in the headland of the market. Brand positioning is a strategic approach to establishing a sustainable competitive advantage. Achieving competitive advantage strengthens and positions a business better in spite of appearance the business environment.There argon five generic competitive stigmatisation strategies useful in brand positioning.These generic competitive strategies be1. A downhearted-m superstartary value leadership outline entails the process of appealing to the broad spectrum of strength buyers by being able to offer an overall low hail proceeds or service. deterrent example Walmart, Dell Computers2. A broad specialty strategy is single in which a business seeks to differentiate its products or services from their competitors in ways that attract the broadest spectrum of customers in an established industry. type Mercedes cars, Apple3. A best cost provider strategy is one that offers customers more v alue for the buck, with a lot of emphasis on the low cost of the product or service in comparison to its broad(prenominal) feature. Great example is Toyota with its Lexus luxury models.4. A focused strategy on lower costs is a brand positioning strategy that concentrates on fall out competing rivals, by offering customized products or services at a lower cost to a smaller portion of the established buyers. Example many small retailers offering their own label or discounted tune of products.5. A focused strategy based on differentiation is one in which the focus is on a narrow segment of buyers who are offered a product or service that has been customized to meet their exact tastes and demands and supersedes what competitors are offering. Example any successful niche retailers (The Perfume Shop, etc.).Benefits of Brand PositioningBetter decision-making.Positioning is an essential framework for helping you decide what to do and what notto do.Efficiency effectiveness.A proverb s tates, He who chases two rabbits impart catch neither. Positioning focuses your limited resources on a clearly outlined goal, enabling these investments to build upon to each one other instead of being deployed scattershot.Control. any position yourself, or your competitors will happily do it for you. Positioning gives you discover over your own brand sign, because it defines the space you can own manage no one else.Marketers can use many dimensions to carve out a brands position in the market place. A brand for each brand position strategyLifestyleSWATCH has become successful life style brands. It play an important role in our lives by allowing us to picture our values and define ourselvesto the world. Lifestyle branding appeals to managers because it offers what appears to be a relatively easy way to sidestep competition and connect with customers on a more personal level lifestyle brands do not ring the competition instead they end up competing for a share of a consumers identity. And as an increasing number of brands turn to lifestyle positioning, the competition among self-expressive brands intensifies. outlay leadershipWal-Mart is a price leader. The brands that are suffering today are those that try to stake outa position in the halfway of the road. They face price competition from the price leader. This way the company translates its cost advantage into price advantage for its customers and thereby improves the market share.This is how Wal-Mart captures the markets and eliminates the competitors and improves revenues and market share.Wal-Mart Storesset the standard for retailers They were the most efficient at getting low-priced goods into the workforce of consumers that nobody could beat them on price.AttributesBlackberry mobile audios they position their Brand on the basis of the attributes of their product. Their products have special features like Blackberry messenger (BBM) which makes their product different from others. Thisstrategyr elies on providing a superior product to the customers to have a better positioning.Product classHindustan Unilever has positioned their various soaps by product class. Like they have dove and lux etc that is positioned by aforementioned(prenominal) class. Positioning by product class can increase a companys profits by presenting more items from our product line to consumers who may be familiar with or loyal to our brand name. This is especially key when akin(predicate) products we position in our product class are one-of-a-kind with no analogous offerings by competitors.CompetitorsSamsung which deals in mobiles phones position their product by keeping in mind its competetors like HTC, sony and lg etc. The Positioning by competitor strategy may be influenced by the market, the features of other products in the market, their pricing,distribution as well as any other factor which is the strength of the competitor. If Samsung is combat against a competitor on the same factors of po sitioning, it should better be prepared for a long and hard fight. However, if it want to get to the top, it need to contend the weaknesses first and thereby permanently take away some of the market share of the competitor.OccasionCOCK brand crackers have through with(p) its brand positioning on the basis of occasion. This kind of positioning stresses when or how your product is used by your target audience. Crackers are loosely used on some special occasions like diwali, mod year and marriage etc. So in the mind of consumer their products are positioned as occasion products.UsersVERTU a subsidiary of Nokia mobile phone has positioned their brand on the base of high class users. Their mobiles are truly costly. Vertucreates limited edition luxuriouscellmobilephones exploitation the finest materials available including gold, titanium etcQualityBMW cars have built its brand image or position their product in mind of consumer through the whole tone of their product. Building a po werful perception of quality, will succeed in creating a powerful brand. The best way to increase perception of quality is to narrow the companys focus. BMW have narrowed products focus, they explain, we become a specialist quite than a generalist, and a specialist is perceived to know more, or be of higher quality than a generalist.