The ability to access a company’s goods or services conveniently and at low cost is a value-added brand benefit for its current and potential customers. A core value-added benefit of many retail brands such as Home Depot, Walmart, Gap, Lululemon, Target, McDonald’s, Best Buy is their wide network of locations that are easily accessible to
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From customers’ perspective, a market is commoditized when most competitive offerings are undifferentiated from each other. In such a market, customers can choose from the many available options without incurring any risk. Naturally, they gravitate toward the lowest price option. This forces competitors to aggressively compete on prices and erodes a brand’s pricing power. Over
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Many new and most global brands operate below their market potential. One reason is that many customers have not yet entered the product markets. Even if they have, they may not be aware of the brand or use it due to many reasons. Companies can successfully achieve their market potential by helping customers to enter
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Product positioning is a systematic process to ensure that the benefits associated with the company’s offering meet the target customers’ most important needs in a way that (1) satisfies customers and (2) increases sales and profits for the company. The benefits not only include product attributes but also brand reputation, pricing, distribution, communication, and customer
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