Within the process, segmentation & targeting are two concepts broadly associated with positioning. Segmentation is the process of classifying consumers into varying categories, depending on criteria such as demographics, household income, education level, relationship status or even interests & attitudes. These categories then become segments that can be focused on by targeting, where companies study each segment to decide which one represents a more valuable opportunity.
Audience size, purchase frequency, average order value or the ability of the brand to serve that targeted segment are factors in this assessment. Once segmentation & targeting have been determined, positioning emerges as the obvious way for the brand moving forward. This will then be supported via the broader marketing mix of product development, pricing, distribution & communications.
This methodology is not indifferent to Trivial Pursuit. Players require knowledge on each categorical slice in order to advance forwards in the game, with the game requiring a culmination of all of our knowledge to secure a win. At Fable&Co, we aim to find that elusive gap. We aim to be IKEA. Potentially the the key aspect of branding strategy, positioning is the quiet workhorse behind the success of most of the successful brands today.
Applying our systematic & analytical brains we undertake thorough research spanning consumers, competitors & brand discovery. If a brand is not positioned, the competitors will almost certainly make it happen themselves. Fable&Co. plan to get there first.
A brand is no longer what we tell the consumer it is- it is what the consumers tell each other it is