Brand positioning on the market

• Published in: Ekonomija. Teorija i praksa (Online) Vol. 11; no. 1; pp. 51 - 63
• Main Authors: Brzaković, Aleksandar, Brzaković, Tomislav, Brzaković, Pavle
• Format: Journal Article
• Language: English; Serbian
• Published: University Business Academy - Faculty of Economics and Engineering Management, Novi Sad, Serbia 2018
• Subjects: alternative approaches; brand positioning; consumers; standard models
• ISSN: 2217-5458; 2620-0228
• DOI: 10.5937/etp1801051B

Brand positioning is a process of creating an impression about a certain brand in the consumers' minds. By doing that, consumers are able to connect a certain brand with something specific and desirable, which distinguishes it from other products on the market. Recognizable and famous brands inspire trust among consumers. Brand positioning requires identification of the target market, identification and analysis of competition, as well as optimal points of similarity and diversity in comparison with other brands. In order to develop the most appropriate positioning strategy, it is necessary to identify the unique characteristics of a brand and determine what distinguishes it from the competition. Positioning represents a process of shaping the company's offer and reputation in order to take a special place in consumers' minds (target market) and to maximize the potential benefits for the company in this way. Brand mantra is an important tool for brand positioning. The improvement of market value can be achieved through emotional consumer-oriented actions, which are becoming an increasingly important method of connecting with customers and differentiating from the competition. In addition to standard models, many new, modern and alternative approaches exist today and are used to position a brand.