Aleksandar Brzaković – Faculty of Applied Management, Economics and Finance in Belgrade – MEF, University Business Academy in Novi Sad, Jevrejska 24, Belgrade, Serbia
Stefan Brzaković – Faculty of Applied Management, Economics and Finance in Belgrade – MEF, University Business Academy in Novi Sad, Jevrejska 24, Belgrade, Serbia
DOI: https://doi.org/10.31410/ITEMA.2021.113
5th International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2021, Online/virtual, October 21, 2021, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade; Printed by: SKRIPTA International, Belgrade, ISBN 978-86-80194-51-6, ISSN 2683-5991, DOI: https://doi.org/10.31410/ITEMA.2021
Abstract
Brand positioning is a process of creating an impression of a brand in the consumer’s awareness using different strategies, including prices, promotion, distribution, packing and competitiveness. Positioning is an act of modeling the offer and reputation of a company so that it can specially position itself in the consumer’s awareness on a target market. In order to create a positioning strategy, a brand’s unique characteristics need to be identified and what differentiates it from the competition needs to be determined. Positioning calls for the identification of a target market, the identification and analysis of the competition and a brand’s optimal points of parity and points of difference. Competition can be researched from the point of view of the industry (branch) and from the point of view of the market itself. Brand mantras are used to position a brand, indicating what the brand offers and for what reason it is superior in relation to other competitive brands. While standard brand positioning models are based upon detailed consumer, company and competition analyses, there are also newly appearing creative approaches to brand positioning, such as storytelling or a journalistic brand chronicle.
Keywords
Brand; Positioning; Storytelling
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