What do we mean by Brand Positioning?
Brand Positioning is a tactic, which allows brands to identify and control the narrative of how their brand is perceived by their target audience (other brands, businesses or consumers). This powerful marketing strategy can help brand-owners differentiate their brand from competitors. There are multiple ways in which this can be achieved, however an example is through developing a brand’s personality, an emotional connection with the consumers is created. Coca Cola positions themselves as a “happiness” brand, with an advertising/marketing campaign focused around bringing people together.
Why is Brand Positioning Particularly Important for Start-ups?
There are several reasons as to why start-ups should invest in brand positioning. One is to create a unique space in the market that they can then occupy. Competing against well-established brands requires a strong brand identity that resonates with the target audience, and helps move customers to brand advocates which is crucial for long-term success. It allows brands to influence withing their marketplace, to generate enthusiasm, interest and differentiation. Tesla have created a unique market presence by positioning themselves as the pioneer in the electric vehicle industry, their focus on innovation, sustainability and technological advancement vastly differentiates them from many other brands in the vehicle industry.
From Start-up to Scale-up:
Brand Positioning is crucial for start-ups; however, it is also important as a brands grow from start-up to scale-up. A well-differentiated brand can stand out to investors looking for innovative opportunities and a memorable point of difference. A defined brand strategy with a discreet positioning at it’s heart, highlights credibility and growth potential. Along with a growing market presence, these factors can help secure start-up funding to support growth and the transition to scale-up. For example, Beyond Meat, a meat-substitute food company, has used brand positioning to win investors through their innovative and disruptive approach to the food industry. Their environmental sustainability, health and brand storytelling has created a prominent brand personality, attracting investors and growing their brand from a start-up to a scale-up.
Author: Kian Noorani
For more information on how we can help position your brand for success, please contact us at hello@tkm-consultants.com