20 April 20
"What sets us apart?" is one of the fundamental questions every company would ask. Most businesses start by providing solutions for market demands. Everyone tries to offer products and services others could not, attempts to find their place in the market, and navigates their way among competitions. In this process, having the answer to that question of differentiation is vital. It is a simple question, only with significant effects and results. Every business wants to stand out, but when everyone does, which among them actually do? It deserves our attention, knowing this has profound implications.
If there is one thing to describe today’s market, it is crowded. The market today is crowded. It is full and overloaded with messages from brands and companies which want you to hear what they have in store – figuratively and literally. For a brand to be heard, there is one thing to focus on: strategy. Brands and companies should be strategic. Otherwise, they lose. There are two differentiation strategies they should focus at the start, product quality and personality.
Product quality refers to how the brand performs. Attracting customers and making them aware of a brand name is only the beginning. It is essential to ensure that customers are satisfied, they find their needs fulfilled, and the products and services they have purchased worth their money. The most common way people measure this is by judging the quality of goods or help they receive. When it lives up to the promise a brand communicates, that is one good sign.
The second one would be personality. Brands need to be relatable for customers to be loyal. By having the right personality to convey, one that suits the target market, brands could distinguish themselves. Having a clear and different personality would mean attracting a specific target market. This would lead to owning a particular segmentation of the market, as well as high levels of recognition and recall. The challenge would be creativity. Personalities consist of different facets, portraying them in general to an audience could be tricky. Some companies could do this themselves and perform some trial and error, others choose to work with a brand consultant or brand agency to determine which steps to take and what to do. Any of this could work as long as brands do not limit how far they develop.