From the course: Marketing Foundations: Integrated Marketing Strategies
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Position strategy to energize your brand
From the course: Marketing Foundations: Integrated Marketing Strategies
Position strategy to energize your brand
- Chances are whether you sell cogs, sprockets, or gizmos, you're probably not the only brand that does. The question that prospective customers want to know that you must always be prepared to answer is simple. What makes you so special? Why should someone buy from you and not from another brand with a similar product? According to Ries and Trout who initially proposed the concept successful brand positioning amounts to owning a piece of your customer's mind and most importantly holding on to it. Just like the homesteaders of old, once you've staked out your claim, you've got to defend it by highlighting your brand's quality, innovation, and value. So how can you do this? First, develop a strategic positioning document. Since brand positioning is essential to your organization's success, this is no place to cut corners. Your goal is to review as much existing market data as possible. Here is some essential questions to answer in your document. What is the market for your product?…
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