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Branding Information |
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Putting You and Your Company in Position to Own Your Market
Americans have always liked their coffee hot. But then Starbucks
made hot coffee desirable, in demand, and extraordinarily
profitable. And then Starbucks made coffee "cool" with its
super-popular iced Frappucino drink -- just as trendy,
fashionable, and universally appealing.
When you are assessing your own position and considering how you might improve your image and thus your market share, remember that there are essentially four winning positions: better, different, faster, or cheaper. You can certainly position yourself as one of these, perhaps even two; capturing a position as three of them is tough and probably not desirable, and cornering all four is just about impossible. Not everyone is up to the task of creating another Starbucks. It's tempting, with price wars so rampant, to believe that a perception of being cheapest is easiest to establish. Yet in truth this is the most difficult because of fixed costs. It's like doing the limbo: you can go only so low, and then you're overextended or flat on your back. Definitely not the easiest position to be in. How about being better instead? Contrary to popular belief, this is perhaps the easiest position to take, since making an improvement or simply creating the impression of greater quality or ability has no constraints. One tip: when you capture the different category, you may get the better category as a by-product. Starbucks capitalized on this technique, as did Dennis Rodman, the oddball of basketball. He came up with a way to take two positions in fans' eyes: both different and better. Okay, maybe he wasn't actually better than his teammate Michael Jordan, who was unbeatable, but certainly he was perceived for a time as better (cooler, trendier) among those who were captivated by his style. His fashion and fascinating antics made him so unique that he became unforgettable. And because he was also an excellent ball handler, he became famous and highly regarded in his sport. BMW has also taken the better-different approach. Until fairly recently, Mercedes-Benz had the better luxury car market sewn up, so BMW -- a competitor with a parity product -- simply repositioned itself. Its tag, "the ultimate driving machine," appeals to a younger crowd and gives them luxury with power and handling. This is "hip luxury," which is different from the Mercedes position, which could be summed up as "elegant luxury." And voilà: BMW became as hot and desirable as a cappucino on a wintry morning. BMW marketers had both a strong sense of the position they wanted to hold and precisely defined their premium clients, the créme de la créme within their target market. You can do this, too. Once you've figured out what position you can successfully gain in your business, ask yourself the following.
Positioning is like popularity: You have to be seen in the right places and with the right people. This is more than social climbing: You learn more about your clients and they learn more about you when you frequent the same places, attend the same functions, join the same associations, be published in their periodicals, and develop products and services specifically for them. Positioning is as much about who you are not as it is about who you are. Starbucks is not a cheaper and faster cuppa joe; it is an upscale, gourmet coffee experience. BMW is no old-style luxury; it is stylish performance. Dennis Rodman is no gentleman forward; he is the outrageous, extreme athlete who is a recognized celebrity even for people who don't know basketball from billiards. Do you want to win big? If so, have the courage to answer these questions clearly and define your own game: Who are you? Who are you not? Who are your clients? These are the essential decisions you must make if you want to not only understand but own your market. James Arthur Ray of James Ray International is an expert in
teaching individuals how to achieve Harmonic Wealth? in
all areas of their life by focusing on what they want, opposed
to what they don't want. He has been speaking to individuals as
well as Fortune 500 companies for over 20 years and is the
author of four books and an inventor of numerous learning
systems. His studies of highly successful people prove that they
continually achieve results by taking control of their thoughts
and actions to create and shape their own reality.
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