By Mark Dresdner
Welcome back guest blogger and Friend of Bauman (FOB), Mark Dresdner of Stratapult Advisors. This article is the second in a five-part series on developing a successful branding strategy.
A brand’s positioning defines how the company’s offering (product or service) will differentiate itself from the competition by focusing on delivering and communicating a select number of areas of value that are of primary importance to the target customer segment.
Trying to be all things to all customers will mean that an offering will be mediocre at best because attributes conflict with each other. For example, one cannot offer bespoke service and the lowest price, if one is to maximize profits. Differentiation typically stems from a company being fanatical about being different in one—and only one—of the following disciples: operational excellence, product leadership, or customer intimacy.
Once a brand has selected a discipline of excellence, it has to guide all aspects of the company. Consistency will continually project a common brand positioning, building trust and loyalty with target customers, which, overtime, translates into profits.
Next week we’ll discuss Step 3: The Value Proposition.