Understanding Brand Positioning
Lesson 8 from: Brand Strategy BootcampScott Lancaster
Understanding Brand Positioning
Lesson 8 from: Brand Strategy BootcampScott Lancaster
Lesson Info
8. Understanding Brand Positioning
Lessons
Welcome To Brand Strategy Bootcamp
01:32 2The Brand Building Framework
03:28 3Branding 101
05:17 4The 5 Laws of Brand Building
06:34 5The Successful Founder's Mindset
04:13 6The Scientific Reason Why Brands Grow
04:14 7Verifying Your Business Idea
03:05 8Understanding Brand Positioning
03:44Lesson Info
Understanding Brand Positioning
1 (lively music) 2 Do you ever wonder why brands use taglines? 3 Like to the point where you literally research 4 every single tagline and brand positioning strategy 5 since 1910? 6 No, just me. 7 All right then. 8 So a brand's tagline is essentially a brand's positioning 9 in the simplest form possible, kinda. 10 Think about some of the taglines that top brands use. 11 We've got Nike and just do it, Apple and think different. 12 We've got Disney with where dreams come true. 13 But what do these taglines actually do for the brand? 14 Well, they help the company capture valuable real estate 15 in the mind of their target audience. 16 Ultimately, you have to own one word or phrase. 17 And the reason for this 18 is when someone thinks about your brand or company, 19 you have to have an associated word or phrase 20 that instantly comes to their mind as well, 21 so that they have a reason to actually choose you 22 as their option when looking for your service or product. 23 So for example...
, if we wanted to take the three brands 24 that we've just mentioned, Nike, Apple, and Disney, 25 and boil everything that that brand stands for 26 into one single word, what would those words be? 27 You could argue that Nike's would be motivating, 28 Apple's could be innovation, and Disney's could be dream. 29 Now, the question you're maybe asking yourself right now is, 30 okay, Scott, I understand that Apple, Nike, and Disney 31 have their words, but what about me? 32 How can you find the perfect word or phrase 33 to associate with your brand? 34 And well, there are two ways 35 that you can go about finding it. 36 Now, the first way requires 362 37 precisely cut pieces of paper 38 in which you basically go through the dictionary 39 and write random words on every single one of them, 40 put them all into a massive fish bowl, 41 fish around a little bit, pick one out, 42 and then you have it, you have your word. 43 Now that could work, but the second option of going through 44 our systems and frameworks to ultimately find 45 the perfect word and phrase to pair with your brand 46 to make sure that it symbolizes everything 47 that you stand for perfectly 48 is most likely gonna be the best option. 49 But just to clarify, that's what we're looking for. 50 We're looking for a word or a phrase 51 that can stick in the customer's mind 52 that's different to everything else going on out there 53 in your market, in other markets, 54 to make sure that the customer remembers your brand 55 for what you want to be remembered for. 56 Tesla, for example, have really did a great job 57 of linking themselves with the term sustainability, 58 as have Amazon, with basically being the everything store, 59 linking to the word everything. 60 Whereas Coca-Cola has went for linking 61 with the word happiness and Red Bull seems to be 62 literally the word on everyone's lips 63 when you think about energy. 64 Now, can you see how these words 65 and the brand names link together 66 perfectly when they're paired together? 67 Now, this is simply because the brand has carefully selected 68 that particular word based on their target audience, 69 based on their competition, 70 and based on their reason for existing 71 beyond financial gain. 72 And if you're not sure about what makes your brand special 73 or what your word or your phrase is just yet, do not worry. 74 We're going to cover everything 75 in the next couple of lessons as we start to build out 76 your brand strategy. 77 And what better way to start than learning how to develop 78 the perfect customer persona so you can learn 79 how to communicate more effectively 80 with your target audience and connect with them 81 so they desire your brand more? 82 And best of all, we're gonna be learning 83 from one of the founders who built a $48 billion brand, 84 a brand that took 7.2% market share 85 of one of the most competitive industries on the planet 86 in a very short space of time. 87 I wonder if you can guess which brand I'm talking about, 88 but lemme give you a clue: yoga.
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