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What is brand positioning and why is it important to firms

What is brand positioning and why is it important to firms

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Brand positioning refers to creation of a brand in the market. It is a marketing strategy by which the business creates a niche for its own brand by carving a unique impression in the minds of the customer. The customer soon starts associating the brand with a unique and desirable feeling.

Brand positioning helps the firm in various ways to stand out from the competitors. It create a separate market segment for itself and helps the firm to grow faster. Brand positioning allows the firm to command a premium for its products. It answers the basic question as to why the customers should select the products rather than the competitors products. It allows customers to associate a brand with their requirements and hence ensures customer loyalty.

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