Building Brands - Marketing Strategy Explained

Suppose that you have a product or service to sell. Now, obviously, you would want each and everyone from your target audience to buy the product, like it, remember it. But what is that one question that you would need to answer for them in order for them to purchase your product or service?

"Why should I buy?" 

Now, your product or service would have some or other utility or value for the customers. The value they derive from your product, the manner in which they perceive that value- and by extension, your product- would play an important role in answering this question. This falls under the realm of positioning. Brand positioning is defined as 

“the conceptual place you want to own in your consumer's mind: the benefits you want them to think of when they think of your brand…”

What, do you think, is the brand positioning of Nike? What about Apple? And what about the brand positioning of Disney? What comes to your mind when you hear the word ‘Disney’?

Let’s hear more about Disney’s brand positioning and, in general, the concept of brand positioning from Siddharth Roy Kapur- an Indian film producer, founder of Roy Kapur Films and the President of Film and Television Producers Guild of India.

You just heard from Siddharth about the concept and importance of brand positioning. He defines brand positioning as:

“The art of being able to understand exactly what it is that you’re selling, what relevance you believe it has in the minds of the consumer that you are trying to target and then being able  to package that product in a way that feels like a compelling proposition for the consumers…”

The other key questions that Siddharth answered in this segment are:

Now, while building a strong brand is essential, marketers often struggle with one crucial aspect of their marketing mix - Pricing. You will hear more about this aspect in the next segment.