In assessing potential threats from competitors, three high-level variables are useful: Share of market— The competitor’s share of the target market. Share of mind— The percentage of customers who named the competitor in responding to the statement “Name the first company that comes to mind in this industry.” Share of heart— The percentage of

EMOTIONAL BRANDING Many marketing experts believe a brand positioning should have both rational and emotional components. In other words, it should contain points-of-difference and points-of-parity that appeal to both the head and the heart.

Often a brand’s positioning transcends its performance considerations. Companies can fashion compelling images that appeal to consumers’ social and psychological needs. The primary explanation for Marlboro’s extraordinary worldwide market share (about 30 percent) is that its “macho cowboy” image has struck a responsive chord with much of the

DESIGNING A BRAND MANTRA Unlike brand slogans meant to engage, brand mantras are designed with internal purposes in mind. Although Nike’s internal mantra was “authentic athletic performance,” its external slogan was “Just Do It.” Here are the three key criteria for a brand mantra. Communicate. A good brand mantra should clarify what is unique about

We can examine competition from both an industry and a market point of view.7 An industry is a group of firms offering a product or class of products that are close substitutes for one another. ... Using the market approach, we define competitors as companies that satisfy the same customer need. For example, a customer who buys a word-processing

Employ a well-integrated set of brand elements. Tactically, it is important for small businesses to maximize the contribution of all types of brand equity drivers. In particular, they should develop a distinctive, well-integrated set of brand elements—brand names, logos, packaging—that enhances both brand awareness and brand image. Brand elements

the brand substitution test. If, in some marketing activity—an ad campaign, a viral video, a new product introduction—the brand were replaced by a competitive brand, then that marketing activity should not work as well in the marketplace. A well-positioned brand should be distinctive in its meaning and execution.

For brands anticipating rapid growth, it is helpful to define the product or benefit space in which the brand would like to compete, as Nike did with “athletic performance” and Disney with “family entertainment.” Words that describe the nature of the product or service, or the type of experiences or benefits the brand provides, can be critical to

Take a position: The best way to position a brand is through a structured approach versus The best way to position a brand is through an unstructured approach.