ASSIGNMENT – BRAND POSITIONING

Q1. What is a Brand Positioning Statement (BPS)? What purpose does it serve?
Ans.
A brand positioning statement outlines a product or service and target market and how the
service or product fits a particular demand of the target market. The brand positioning
statement and brand positioning is intended to be used internally to match marketing efforts
with the brand and value proposition.
A positioning statement's objective is to communicate a brand's value proposition to its ideal
customers. In the context of the buyer's experience, it also frames the brand's identity, purpose,
and unique traits.

Q2. How is a BPS different from a Slogan or Tagline?

Ans. The marketing and operational decisions of a company are guided by brand positioning
statements. A positioning statement aids in important decisions that affect a brand's impression
among customers.

A tag line, or a slogan, is an external statement that is used in marketing campaigns. A brand
tagline is a memorable dramatic phrase that summarizes the tone and premise of an
audio/visual product, or it serves to reinforce and strengthen the audience's recall of a literary
product.

Q3 – ALTERNATIVE: Why do brands collaborate? Use some of the examples given (in the
attached report on Brand Collaboration) to identify the benefits of collaboration between
brands [IN YOUR OWN WORDS!!].

Ans. Due to current market conditions, with shifting government policies, altering customer
choices and preferences, and ever-increasing competition, constant downward trend in sales
and profit can be observed. Nowadays, thanks to social media customers are well-informed of
current market conditions as well as they are exposed to vast range of alternate options for
similar products. To win in this situation, brands are going for collaborations with other brands
to present their products to customers with innovations.

Benefits of Collaboration Between Brands:

1. In case of, Ford and Tinder: Brands can reach each other’s customer base and
promote their latest offerings to them. It helps both brands in boosting their own
customer base and brand value.
2. In case of, Nike and Apple: Both brands share common goal of offering innovative
and novel products to their customers. They collaborated for creating technology
driven fitness products. The prime objective of their collab was to generate higher
revenues and profits by increasing the sales of products by using each other’s huge
customer base.