| Brand positioning is an essential element of a winning | | | | While you cannot directly control the ranking that |
| branding strategy. Positioning simply refers to how | | | | your product or service enjoys in the minds of your |
| your product or service is viewed in the minds of | | | | customers, you can influence how you position the |
| prospects and customers relative to other products | | | | product in terms of qualities and attributes. That is, |
| or services available in your niche. | | | | by properly positioning your product relative to your |
| The term positioning has two connotations: a vertical | | | | competitors in the minds of your customers, you will |
| and a horizontal one. In terms of the vertical | | | | have much more control over how your brand is |
| connotation, the term refers to the order in which | | | | perceived in the marketplace. You will then |
| your product ranks relative to the products of your | | | | effectively have a guide or map for how to execute |
| competitors in the minds of your customers in your | | | | your branding strategy. |
| industry niche. (For example, which product comes to | | | | Brief Exercise: |
| mind first when I say the word cola?) | | | | Identify the key differentiators of your product. Ask |
| In terms of the horizontal connotation, the term | | | | yourself: why would customers buy from me? What |
| refers to the qualities and attributes your product | | | | makes my product different? What is the unique |
| represents in the mind of your customers, again | | | | value it adds? Be sure to list at least 4-5 traits that |
| relative to your competitors. | | | | set your product apart and make it unique. |