Positioning is a marketing concept followed by marketers to generate an image of their product/service in the mind of customers. Positioning helps to create a distinct image of the brand and the product in the mind of the consumers in comparison with other products or brands. Every marketer considers the brand positioning as one of the most important aspect of overall brand creation. People have different perception about a brand based on how the brand was positioned in the market.Read Next
In marketing, the positioning concept is followed after the market segmentation where the market is broken down and a target group for their product is identified using targeting strategy, which is collectively known as STP marketing strategy. After selecting a niche market, positioning helps to create an impression in the customers mind. Companies create a positioning statement for their brand, product or service which helps customers identify with the business.
Positioning is broadly classified into three types:
1. Functional Positioning: This is used when the brand or products provide solutions to problems and provide benefits to customers. Functional positioning focuses on the function, benefit or utility that it gives to the customer.
2. Symbolic Positioning: This is useful for creating a brand image which helps create brand equity, a sense of social belongingness and ego-identification. Symbolic positioning is when a customer has an affection, social connection, ego identification etc with the product.
3. Experiential Positioning: This creates sensory and cognitive simulation in the minds of the customer. Experiential positioning is one of the basis of the experiences which a customer can relate to.
Companies use a positioning process, which is step-wi