LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their recent article on achieving successful brand positioning in your market. In this blog, experts at Infiniti Research discuss how companies can create effective brand positioning in the market by following six key steps.
A Strong brand sets one company apart from another. Companies use brand positioning strategies to create a brand association in the minds of customers. This makes customers perceive a brand in a particular manner. Effective brand positioning maximizes customer relevancy and competitive distinctiveness while enhancing the brand value in the market. The extent to which a brand is considered as favorable, credible, and unique by customers determines the success or failure of a company’s positioning strategy.
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Steps in creating an effective brand positioning strategy
Determine current brand positioning
Start by determining your brand’s current positioning. This gives you important insights into where to go next and also provides an opportunity to further analyze the competition. This can be done by segmenting and defining your target customers and understanding what makes your brand different from others in the market.
Determine your competition
Using competitor analysis analyze your key competitors in the market. This will help you gain a better idea of who you are up against in the market and what their key strategies are. Some of the key methods you can use to determine your competition include market research, customer feedback, and through social media.
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Identify your unique selling proposition
A successful brand positioning is all about communicating to customers about what makes your brand different from the others. As you examine the strengths and weaknesses of the competitors, you may notice that their weakness is your strength. You can use this as a key element in promoting your brand positioning strategy.
Create a brand positioning statement
A brand positioning statement is a comprehensive declaration that communicates your brand’s unique value to your customers. Before drafting a positioning statement, some of the questions that you must answer include – who the target customers are, what core benefits are offered by your product, and what categories of products are offered by your company.
Test your brand positioning statement
Creating a brand positioning statement is only the beginning. The real challenge lies in testing and gathering feedback on whether the positioning strategy is living up to what is expected. Gather feedback from the target customer and identify if there are any improvements that can be made to achieve the desired result.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us