Brand: Positioning Statement & Attributes

Do This First (Daily Motivational Podcast)

Brand positioning is essential for distinguishing a brand in a crowded market and establishing a connection with the target audience. Two pivotal elements of brand positioning are the positioning statement and positioning attributes. This deep dive podcast episode explores these components in detail, providing guidance on crafting effective statements and identifying the right attributes to enhance brand identity and market resonance.

A positioning statement is a succinct narrative that captures the essence of a brand and articulates its unique place in the market. It’s a guiding star for brand strategy, ensuring all marketing efforts align with the core brand message. A well-crafted positioning statement should clearly convey these components:

1. Target Audience: The specific group of customers the brand aims to serve.

2. Market Definition: The category or context in which the brand operates.

3. Unique Value Proposition (UVP): We covered the UVP yesterday. It’s the distinct feature or benefit that sets the brand apart from competitors.

4.Reasons to Believe: Proof points or evidence that substantiate the brand’s claims and enhance credibility

Example of a Positioning Statement

Let’s consider a couple of well known brands and look at their positioning statements.

1. Mercedes-Benz

Positioning Statement

For luxury vehicle enthusiasts (target audience), Mercedes-Benz is the premium automotive brand (market definition) that embodies superior engineering and innovation (unique value proposition) because of its long-standing commitment to quality, safety, and advanced technology (reasons to believe).

Positioning attributes consist of various components that help define a brand's identity and differentiate it from competitors. Here are the key components of positioning attributes:

1. Functional Attributes:

- Performance: How well the product or service meets its intended function, including reliability, efficiency, and effectiveness.

- Quality: The standard of the product or service in terms of materials, craftsmanship, and overall value.

- Usability: The ease with which customers can use the product or service, including user-friendliness and intuitiveness.

2. Emotional Attributes:

Feelings: The emotions the brand evokes in consumers, such as happiness, security, or nostalgia.

Brand Story: The narrative that surrounds the brand, including its history, mission, and values, which can foster an emotional connection with consumers.

Identity: The lifestyle that consumers want to associate with, often tied to status, sophistication, or specific values.

3. Symbolic Attributes:

Brand Image: The perception that consumers have of the brand, including its reputation, prestige, and associations in the market.

Cultural Associations: The cultural, social, or historical notions linked to the brand, which can enhance its significance to certain audiences.

Visual Identity: Elements like logos, colors, and packaging that create a recognizable brand image and contribute to its symbolism.

4. Experiential Attributes:

Customer Experience: The overall experience consumers have when interacting with the brand across various touchpoints (sales, customer service, etc.).

Engagement: The level of interaction and connection the brand has with consumers, which can include personalized services or community involvement.

Multisensory Experience: How the product or service engages multiple senses (sight, sound, taste, touch, smell) to create a memorable experience.

5. Price Attributes:

- Pricing Strategy: The approach to pricing—whether premium, competitive, discount, or value-based—that influences consumer perception.

- Perceived Value: How consumers perceive the value they receive versus the price paid, which can affect their overall satisfaction and loyalty.

These components work together to shape a brand's positioning by providing consumers with a comprehensive understanding of what the brand stands for, the value it offers, and how it differentiates itself in the market. Identifying and effectively communicating these attributes enables brands to connect meaningfully with their target audience.

Tomorrow, we’ll take a look at three iconic brands that have mastered

Tomorrow we’ll look at two iconic brands that mastered positioning in their market and beyond.

I did want to take a couple of minutes to answer a couple of questions that have come in concerning audience identification and expansion.

Question from Mark in Roswell, Georgia. -I have a moderately successful product, but want to expand my audience. How can I do that without losing my loyal customers? I’ve received several questions that are similar to Mark’s question, and so I will include them in my response.

There are three solid approaches you can take that can be effective.

You can tweak your messaging, so that it resonates with other demographics. Since you’ve conducted your research and have segmented your audience, you should have a good idea who your targeted audiences are, and what appeals to them.

Another solid way of expanding your reach is by offering bundles, discounts and time sensitive promotions. Another solid way of extending your reach is to provide a freemium. Of course, this only works if you have a digital product and or a subscription based product or service.

You can iterate new versions of your product. The versions are geared towards a particular segment of your audience that you are trying to expand. You can also offer a stripped down version of your product for a substantially decreased price or even free.

Another way of expanding your product’s reach is through social media campaigns which are not free, but can be less expensive than Google’s PPC campaigns. Blogging can be hugely impactful which I do. Blogging can bring awareness to your brand which is what you are looking for. By nature I’m a writer and enjoy writing all of my blogs. But, if you are not you can find freelancers on Fivr and across social media that will be more than happy to assist.

If you are concerned w/ losing your core audience, you should create products that are specific to the different segments in your audience. Changing a beloved product because you are wanting to expand your audience can be detrimental.

One such case that I read about happened in 1985, Coca-Cola introduced "New Coke," a reformulation of the original Coca-Cola recipe. The change was intended to make the drink sweeter and more desirable to younger consumers. However, the new formula was met with widespread public disapproval as loyal Coca-Cola fans strongly preferred the original taste.

The backlash was intense, with consumers expressing their anger and disappointment through protests and by vocalizing their resistance. In response to the negativity and declining sales, Coca-Cola reintroduced the original formula as “Coca-Cola Classic” just three months later, effectively reverting to its previous iteration and restoring consumer trust and loyalty.

The podcast notes are usually on my blog, but my hosting company is having some back end issues. Therefore I am including a transcript of the podcast episode in the notes section of the podcast episode. You can access it by going to my website, Do this First. Life, find the podcast episode, and click notes on the bottom right hand side of the player.