How to Position Your Brand in the Market
Positioning the brand means putting it out for customers to identify it. The ultimate aim is to let people know the brand's true mission and message. When you do it effectively, your brand attracts the right customers and enhances their loyalty toward you. Therefore, companies hire brand strategy consulting firms that can help with overall brand strategy and positioning. Using market segmentation In this positioning method, consultants and businesses create buyer personas. They usually target customers based on their demographics and geographic to sell a particular product. For instance, if a company sells beauty products for acne-prone skin, they’ll likely target young adults. Moreover, customer behavior patterns are noticed to see which brand they’re more loyal to. Lifestyle also plays a vital role in understanding a customer’s favorable products and habits. Companies use market segmentation to learn which customers to target for brand positioning. Competitor analysis The...