“You’re a Wizard Harry!” No Hagrid, I’m a Brand!
We all know Harry Potter – the boy who lived! – was one of the greatest wizards of all time. He was brave, lovable, selfless, and – bonus! – had a wicked scar that spoke for itself. Albus Dumbledore too was incredible and regarded as one of the most powerful wizards; but it is important to recognize their differences and expertise. Potter was young and brave and learned that he needed to sacrifice himself to fulfill a greater purpose; Dumbledore on the other hand exemplified his brilliance in protecting Hogwarts and fighting Voldemort early on. Nonetheless, each participated uniquely in the battle against Voldemort.
Similarly, we see brands like Nike and Adidas striving to provide consumers with high quality, durable, and versatile athletic wear. While both work towards the same purpose, they each have a strategic competitive advantage to differentiate themselves. Simply because you compete in the same category and provide comparable products, does not mean you cannot dominate in your own area of the market – you can be distinct and memorable, just like Potter and Dumbledore!
Positioning: the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market
Kotler, P., 2003. Marketing Management. 11th ed ed. Englewoods Cliffs,NJ: Prentice-Hall.
Position Versus Positioning
Importantly, there’s a different between position and positioning. Your brand’s position is how it is viewed by consumers, specifically in regard to important attributes, and compared to competitors. Brand positioning is the action a marketer takes to influence the position.
Three Steps to Positioning Well
Understand what your consumers want, and who they are
Understand what your company and brand capabilities are
Understand how competitors are positioning their brands, so you can be unique
Ideally, you’ll find something consumers want, that you can uniquely provide better than competition. A strong position differentiates from competition, resonates with customers, and motivates employees.
How the Marketing Lab Can Help
Dumbledore mentored Potter into becoming one of the greatest wizards in his day. The BYU Marketing Lab can likewise assist you and your company in your endeavor to differentiate from competitors and position your brand effectively. The Marketing Lab provides clients with innovative marketing solutions at a fraction of the cost. The firm is driven by the best and brightest students from one of the nation’s top business schools, who utilize their resources and knowledge to provide effective and cutting edge recommendations.
We can brighten your company’s future by performing industry research and ultimately determine the consumer’s perception of your brand relative to competitors. After identifying your competitive angle through the eyes of consumers, we will help you build your brand and plot out effective measures to succeed as a dominant brand in your product or service category. The Marketing Lab is here to advance your business and help you become the best brand you can be so that one day, you can raise your wand in the air in celebratory triumph.