Hello, I’m
Jim Glover, That Branding Guy for Once a Day Marketing™.
Today is Smart Monday and
we’re going to take a quick look at branding in a mature market.
A mature
market is defined by the fact that the product or service category has several
brand leaders. For example, if I asked
you to name a top cola you'd probably mention Coke and Pepsi. These are category brand leaders in the
mature soda market.
In a mature
market it's more challenging to create top of mind with potential customers,
especially if you are trying to compete head to head with the category
leaders. The best strategy is to
differentiate your offering by focusing on a unique attribute that competitors
aren't offering.
Let's take a
look at an example. In Santa Fe there is
a restaurant called Maria's. It doesn't
boast that it's the best restaurant in New Mexico or even the best New Mexican
restaurant in Santa Fe. It does promote
having the largest selection of margaritas anywhere. Whenever you ask a local in Santa Fe where
the best place is to find a margarita, Maria's is always top of mind. By creating this unique positioning in the
restaurant category, Maria has captured substantial market share as well.
If your
brand is situated in a mature market capture more market share by promoting
your unique positioning.
Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.
© 2013 Once a Day Marketing™. All rights reserved.
No comments:
Post a Comment