There’s a line between value proposition and brand positioning- Dolapo Otegbayi
By Zion Rufus
As businesses continue to face stiff competition while they fight to retain their customers’ loyalty and attract new ones in an economy that is consumer driven, marketing expert and strategist have identified that there is a fine line that separates value proposition from brand positioning.
Defining Positioning as how consumers perceive a company’s service relative to competition, the Friesland Campina Specialized Nutrition Director pointed: “There is always this confusion between positioning and value proposition, it might sound like they are the same thing, like both sides of the same coin, but they are not the same. However, both are very important as they are the bedrock of your marketing strategies.”
She explained: “Where one is aimed at how consumers see you; the other is about how you want to be seen by your consumers. The combination of both is what forms your brand equity and gives you a competitive edge over your competitors. And it is important that you fight and strive to drive that distinctiveness in the minds of consumers.”
According to the seasoned marketer, the more you’re willing to pay for a certain brand, the higher the brand equity. The components of brand equity include brand awareness, brand loyalty, brand preference, brand perception, perceived quality, brand experience, and brand association; then there’s brand positioning. Brand Positioning and Perception need to be perfectly balanced to help create flawless brand equity. In a marketplace where there is more than one kind of brand selling the same product, the game of positioning a product becomes more about perception than tangible variants.
Brand Positioning and Perception designs the company’s offering and image to occupy a distinctive place in the mind of the target market. They describe how a brand is different from its competitors and where, or how, it sits in customers’ minds. When customers have a good experience while using a brand, they will consider the brand as superior and will start preferring it over others.
Brand equity is the value a brand has in the market. It refers to the additional value that a consumer attaches with the brand which stands it out amongst its competitors. Most consumers come with pre-set opinions about the brands they prefer and are rarely prompted to try a new brand; based on social factors such as culture, subculture, and social class of the consumers, their preferences shift towards certain brands over the others.
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