Brand positioning must make sure that: Is it significant and encouraging to the niche market?
The Battle for your Mind, Al Ries and Jack Trout describe how positioning is used as a communication tool to reach target customers in a crowded marketplace. Jack Trout published an article on positioning inand regular use of the term dates back to when Ries and Trout published a series of articles in Advertising Age called "The Positioning Era.
The Battle for your Mind has become a classic in the field of marketing. The following is a summary of the key points made by Ries and Trout in their book.
Subscribe to The Financial Brand via email for FREE!Over the past several years, the dynamics of financial marketing have changed dramatically. While the past was a combination of mass media and some direct channels, the addition of new channels and technologies has impacted not only the tools. Use of Data Distinguishes the Leading Brands % of respondents who said that their organization leveraged all data and analytics to improve marketing effectiveness. Positioning and building a brand takes time and requires a certain consistency (not just in the communication efforts themselves, but also in regards to the core elements of product, pricing, and distribution) and therefore represents a significant commitment for .
Information Overload Ries and Trout explain that while positioning begins with a product, the concept really is about positioning that product in the mind of the customer. This approach is needed because consumers are bombarded with a continuous stream of advertising, with advertisers spending several hundred dollars annually per consumer in the U.
The consumer's mind reacts to this high volume of advertising by accepting only what is consistent with prior knowledge or experience. It is quite difficult to change a consumer's impression once it is formed.
Consumers cope with information overload by oversimplifying and are likely to shut out anything inconsistent with their knowledge and experience. In an over-communicated environment, the advertiser should present a simplified message and make that message consistent with what the consumer already believes by focusing on the perceptions of the consumer rather than on the reality of the product.
Getting Into the Mind of the Consumer The easiest way of getting into someone's mind is to be first.
It is very easy to remember who is first, and much more difficult to remember who is second. Even if the second entrant offers a better product, the first mover has a large advantage that can make up for other shortcomings.
However, all is not lost for products that are not the first. By being the first to claim a unique position in the mind the consumer, a firm effectively can cut through the noise level of other products.
For example, Miller Lite was not the first light beer, but it was the first to be positioned as a light beer, complete with a name to support that position. Similarly, Lowenbrau was the most popular German beer sold in America, but Beck's Beer successfully carved a unique position using the advertising, "You've tasted the German beer that's the most popular in America.
Now taste the German beer that's the most popular in Germany. If a brand is not number one, then to be successful it somehow must relate itself to the number one brand. A campaign that pretends that the market leader does not exist is likely to fail.
Avis tried unsuccessfully for years to win customers, pretending that the number one Hertz did not exist. Finally, it began using the line, "Avis in only No. Whether Avis actually tried harder was not particularly relevant to their success. Rather, consumers finally were able to relate Avis to Hertz, which was number one in their minds.
Another example is that of the soft-drink 7-Up, which was No. By relating itself to Coke and Pepsi as the "Uncola", 7-Up was able to establish itself in the mind of the consumer as a desirable alternative to the standard colas. When there is a clear market leader in the mind of the consumer, it can be nearly impossible to displace the leader, especially in the short-term.Brand positioning is one of the most crucial aspects of getting your message to the market.
Understand the 3 Cs of a successful positioning statement! The precise origins of the positioning concept are unclear. Cano (), Schwartzkopf () and others have argued that the concepts of market segmentation and positioning were central to the tacit knowledge that informed brand advertising from the s, but did not become codified in marketing textbooks and journal articles until the s and 60s.
Subscribe to The Financial Brand via email for FREE!Over the past several years, the dynamics of financial marketing have changed dramatically. While the past was a combination of mass media and some direct channels, the addition of new channels and technologies has impacted not only the tools.
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Creating a Marketing Communication Plan. Your Marketing Communication Plan is an extension of your overall Marketing Plan and is also a customized blueprint specific to your situation.
Your product, service or idea and the prevailing market conditions will determine your optimal Marketing Communication Mix as well as define your target audience and the right message and media to .