Amping Up Your Positioning
By: Jodi Cross
Recently I heard an interview with Brian Cornell, Targets new CEO about how he plans to reposition the retail giant moving forward. Mr. Cornell, stated that Target was “going back to the basic core values” that made Target a success. Target will once again deliver on their brand promise and tagline, “Expect More, Pay Less and strive to cool again.” In the interview, Cornell specifically mentioned the brand pillars that made Target a success. They included; trends and fashion, design and style, wellness solutions and customer service. Under the former CEO, Target appeared to have lost focus and tried to compete with Walmart on price and the addition of an expanded grocery product line.
I am not only a brand marketer but I am a consumer and I shop at Target. Cornell’s comments were music to my ears. This brings me to the power of brand positioning. Brands like Target create a relationship with their customers. Their pillars and tag line underscore the brand promise and clearly communicate points of distinction that the consumer can relate to.
At CNMI, we have worked with a multitude of brands to develop value propositions, create long-term advantages and target key customer markets to build and grow revenues.
Here are some insightful questions we use to help define our client’s positioning;
- What do you want your brand to be known for among your target audience? Do you own that positioning?
- What advantage do you have over your competition?
- Does your brand position match your companies KPI’s and vision?
- Are your branding goals realistic and attainable?
- Does your brand relate to the consumer on an emotional level?
- Does your brand positioning contribute to long-term growth?
To determine the answers to these crucial questions, CNMI conducts a collaborative stakeholders meeting during which we come to mutually agreed upon conclusions and action items. Then we work toward crafting a positioning for your product and/or service.
Here are some key elements to consider when crafting your positioning;
- Your positioning should differentiate your brand from the competition. The differential cannot be based solely on price or service.
- Consumer perceptions should play a key role in crafting your position.
- Consider your audiences, a positioning needs to add value for both consumers and stakeholders.
- Your brand position must be believable and consistent in all areas.
- Your product or service position should be easy to communicate and difficult to mimic.
- Your positioning should match your personality and image and be sustainable over a long-term business cycle.
There are many brands who have gone to or are heading toward the branding graveyard. Radio Shack, Kodak and Blockbuster come to mind. I predict Target will make a strong come back!
If you are interesting in refining or developing your brand positioning, gaining greater market share or driving revenues, contact Jodi Cross at CNMI. We may be reached at email@example.com or visit www.crossnm.com for more great marketing ideas.