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Price and quality play a crucial role in brand positioning. They help in differentiating a brand from its competitors and establishing its place in the market. A high-quality product with a high price can be positioned as a premium or luxury brand, while a lower-priced product with decent quality can be positioned as a value-for-money brand. It's important to align the brand's perceived quality and price with its target audience's expectations to successfully position the brand.
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A brand positioning model defines your competitive advantages, audience needs, defendable strengths, and core brand values. (Slide 3) Use brand perceptual maps to plot how your company's brand positions against competitors, especially when it comes to price and quality. (Slide 7) After you have a solid grasp of your brand position, continue the brand management process to plan and implement new programs, measure performance, and sustain brand equity. (Slide 12-14)
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Does your company still struggle with the best way to communicate your value to consumers? An effective brand positioning strategy can set you apart f...
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