The Tribune

Brand positioning is one of the single most important steps any business must take on the road to success. Yet it is often the most shunned, especially by small businesses, who understand the value of positioning only after the results are in.

An effective brand strategy gives companies a major edge in increasingly competitive markets. But what exactly does ‘branding’ mean? Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.

This process involves a unique name and image for a product in the consumer’s mind. This is generated mainly through advertising. Is your product the high-cost, high-quality option, or the low-cost, high-value option? You cannot be both, and you certainly cannot be all things to all people.

Therefore, it is easy to say: ‘This is our position’, or: ‘This is where we want to be’. The problem arises if there is already someone there who is bigger, better or far more financially endowed. You may then need to shift positions.

We all know that positioning can be tough because it may reveal your golden egg is not really golden; perhaps a little more on the ‘bronze’ coloured side. Furthermore, we would all like to believe our ideas are completely original as well.

But sometimes your original ideas are not so original, without you knowing it. Brand positioning brings to light the viability of your product or service. It can also show alternate paths, and even reveal new opportunities.

Brand positioning is a difficult task that can rarely be completed by one person alone. Good brand positioning requires hours and days of intense research, along with plenty of true objectivity. It works well when using a designer and client relationship to blend ideas together.

However, before investing, ask yourself: Is your idea unique? Do some intensive research to determine whether or not other companies are marketing the same product or service.

If your product is totally unique, then you may have literally hit a home run. If there are other products just like it, you may have to reposition yours as being different in an important way, which can capture the attention of your audience and garner enough sales to justify the effort.

Do not forget that we all have competition. And I mean everyone. All great athletes have competitors, and strong competitors are a valuable asset. If a larger competitor has the marketing budget to oust you at every crucial step, you may need to change strategy and consider a different position in the market.

Brand positioning is often a hard process, especially when you are excited about getting your business started or launching a new brand. Yet it is usually the one key ingredient most people lack, and often in a big way.

I highly recommend pairing with a brand consultant or graphic designer who truly understands branding. At the end of the process, you should have a brand position summary that clearly states your market position, and which can guide your product development and marketing planning.

To this end, I think ‘brand’ is one of those words that is widely used but misunderstood. Put simply, your ‘brand’ is what your prospect thinks of when he or she hears your name. It is everything the public thinks it knows, and the short end is that it only exists in someone’s mind.

While a brand’s positioning should be designed to be fairly enduring, it can (and often should) change over time to reflect changes in the marketplace, including new competitors, new technological advances and new benefits sought. Until we meet again, fill your life with memories rather than regrets. Enjoy life and stay on top of your game.

• NB: Columnist welcomes feedback at deedee21bastian@gmail.com

ABOUT COLUMNIST: Deidre Bastian is a professionally trained graphic designer/marketing coordinator with qualifications of M.Sc., B.Sc., A.Sc. She has trained at institutions such as: Miami Lakes Technical Centre, Success Training College, College of the Bahamas, Nova Southeastern University, Learning Tree International, Langevine International and Synergy Bahamas.