Success in business isn’t always determined by who has the best products or services. Branding plays a larger role than you might expect. From corporate behemoths right down to local small businesses, every company can benefit from developing a brand positioning strategy.
If you are considering updating your business marketing plan, learn how five top corporations positioned themselves ahead of the competition.
What is Brand Positioning?
Brand positioning is the process of differentiating a company’s products and services from those of its competitors. It is used to shape consumer purchasing preferences by making a business appear more favorable, unique and credible.
Today, many companies write a statement about how they plan to position their brand, which helps them to create a consistent marketing strategy.
How Top Corporations Positioned their Brand to Succeed
1) Trader Joe’s
Trader Joe’s could have been just another food store, if it wasn’t for their unique branding. From grocery clerks in Hawaiian shirts to fair trade coffee, Trader Joe’s has a style and a mission that sets them apart from the Stop and Shops of the world.
3 Key Elements of Trader Joe’s Branding
- Personal experience
The result has been soaring profits, even at a time when the Waldbaum’s supermarket chain went out of business.
2) Toyota Prius
Toyota’s Prius hybrid electric car is a good example of how a company effectively branded a product to attract its target audience. Toyota has used marketing to make the Prius about more than simply driving from point A to point B.
Toyota differentiated the Prius from other cars with these three points:
- Fuel efficiency
- Cutting-edge technology
3) Dollar Shave Club
The Dollar Shave Club grew from a small start-up to a billion-dollar company with the help of strong brand positioning. Through witty advertising campaigns, the Dollar Shave Club stole customers from traditional razor companies, like Gillette.
The Dollar Shave Club branding kept it simple by focusing on these three main points:
Apple is perennially one of the world’s most valuable brands. Not coincidentally, it works as hard at its marketing as it does at building MacBooks.
Apple has positioned itself as an industry leader with marketing campaigns that are focused on broad concepts, like imagination, design and innovation. Today, Apple product launches have become anticipated events and customers sometimes sleep out in the street to get the latest iPhone.
5) Jet Blue
Jet Blue is another classic example of branding done right. The budget airline burst onto the scene in 2000 and quickly became a household name.
Jet Blue was so successful because they immediately made it known to the public exactly what they were all about:
- Low cost
- Customer-focused approach
- Flying in style
This loud and clear message hit home with customers who flocked to the airline in droves.
As you can see with these five examples, brand positioning strategy is a crucial component of business success. Although you may have a unique product, it’s tough to find an audience without disseminating your message the right way.