It was once said that a brand could only be one of three
things – better, different or cheaper. That said, a brand can also be ‘new’,
which is helpful but, of course, only temporary. In the service economy
‘faster’ can also be brand positioning. Lastly, if a brand fits into none of
these categories it could be considered “doomed.”
Admittedly this seems overly simplistic. But for every
contested brand category, the dominant brands clearly fits into this
classification. Take airlines for example. Emirates and Virgin are
positioned as better. Spirit and West Jet are cheaper and Southwest is
different.
As
demonstrated in the adjacent Venn diagram, brand positioning can overlap. There
are indeed well crafted power brands that occupy two circles. As consumers, it
takes us minimally two planes of improvement in order to choose a particular brand
or business for its value proposition. Think Tesla, which many see as both
better and different. Or, Old Navy, which may be seen by many as both cheaper
and different. While certainly possible, there are few examples of better
and cheaper.
What is impossible is to occupy all three circles
simultaneously. Moreover, why would a brand want to be all three? If, for example, your brand is perceived
as both better and different you can charge a premium price so it would be
foolish to throw away this well-earned margin by also claiming to be
cheaper. Let us also agree that (in most cases) “cheaper” positioning is
a ‘race to the bottom’ with increasing commoditization and diminishing
returns.
“Better” might entail a high level of expectations
surrounding design as it relates to your product. It might also represent a
superior service professional who is providing the direct client interface. It
could mean that it’s the “full service,” highest value package to all customers
and that you drop the lower-range product offerings. It could factor in a
seamless user experience in your app, or perhaps even a customization level
that was previously unavailable.
Figure out what “better” means to you, as well as to the
customers you serve – because this will mean different things to different
people. Your answer just has to arrive
at the fact that it’s far superior to your current version, your competitors,
and to the status quo. This, if you’d
like to change any sort of consumer behavior by offering a better option.
In today's world the pace of innovation, change and growth
have gotten so much faster, that even if you checked all three boxes (of,
faster, better, and cheaper) these are no longer sufficient to guarantee
success in the on-demand economy. Especially as new D2C brands
are shaking up the landscape.
No matter which position you choose– figure out what your
brand is, internalize it, and then stick with that plan to continuously
surprise and delight your clients. Ultimately, while you may not be able to
dictate brand positioning to your potential customers you can still influence
your audiences with a strategic brand narrative to mold their opinion over
time. Need some help crafting you perfect positioning? We can help.
