Dictionary defines a brand as “a type of product manufactured by a particular company under a particular name.” Wikipedia defines it as “an overall experience of a customer that distinguishes an organization or product from its rivals in the eyes of the customer.” Kotler defines brand positioning as “the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market.” From these definitions, we can see that both brand and brand positioning are important to a company’s success in the market.
As understood from an article by Marissa Sternberg on Quantified Communications, equally important is the approach taken to develop a successful brand, and a data-driven method is considered essential for this process. A data-driven approach is based on the objective use of facts gathered to guide sound decision-making relative to the positioning of your brand. Using a communication analytics (data-driven) approach, you will be able to forecast an audience’s response to your verbal communications, and this will enable your marketing team to spot any differences between the brand attributes you think you are communicating and what you are communicating in reality. It is important to realize that your intended message or positioning may not be consistent or clear. Impartial data will enable you to efficiently design unique brand strategies.
Equip yourself with the knowledge necessary to use data to position your brand by taking the Marketing Analytics certificate program offered by Genashtim, in collaboration with eCornell.