Hardwood Floors April/May 2019

The Foundation of Your Brand (Continued)

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Do your research

quality. Or you can change the message to focus on a more authentic advantage. Build a positioning strategy Now it’s time to develop a positioning strategy. e goal is to nd that space your company or product will occupy in the consumer’s mind and then write a positioning statement that re ects that space or position. e four basic elements of a positioning statement are:

those strengths and even enhance them to build customer loyalty and drive sales. Playing on your existing strengths also adds credibility to your messages. Once you’ve assessed the existing brand, analyze your strengths and weaknesses relative to the competition. Determine if you should change your business practices, especially if your research unearthed some unpleasant surprises. For example, if you claim to o er quality workmanship, but customers feel otherwise, you need to either stop touting workmanship or improve your

To understand how your business is perceived, don’t count on your own insights or hunches; ask your customers, suppliers, vendors, and anyone with whom you do business. What you learn may be very di erent fromhow you perceive your brand or how you wish it was perceived. Once you knowwhy customers do business with you, you can build on

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