The Enterprise Transformation Catalyzer
The Key to Successful Product and Service Innovation and Transformation
Brand Positioning Research: The Key to Product Innovation Success
In today’s fast-paced and ever-changing business environment, companies need to innovate continuously to stay ahead of the competition. Product innovation is one of the most critical drivers of business growth, and companies invest heavily in research and development to stay ahead of the game. However, product innovation can be a risky and costly endeavor, and the failure rate of new product launches is high.
One of the essential factors that can help companies succeed in product innovation is brand positioning research. Brand positioning research is a process that helps companies understand how to position their brand in the market to achieve maximum impact and success. In this article, we will explore how brand positioning research can help companies innovate successfully and stay ahead of the competition.
What is Brand Positioning Research?
- How can I evolve my product and services value proposition?
- Do I have opportunities to tap into a new customer segment?
- How can I stand out now from my competition?
- How might I project myself ahead from my competition?
The first two questions are usually answered through traditional consumer needs and expectation research involving ethnography, interviews, focus groups, and quantitative surveys that may use segmentation methods.
The last two questions can be approached through similar methods, as well as semiotics and related cultural research methods.
A GOOD BRAND POSITIONING RESEARCH EXAMPLE
Why is Brand Positioning Research Important?
Brand positioning research is critical to the success of product innovation for several reasons. First, it provides clarity and actionability to the enterprise towards its transformation goals. It aligns teams and customers towards a vision that impacts the world and society, accelerates innovation and consumer-centricity, and focuses on its value.
Second, brand positioning research is becoming a more dynamic exercise that can be done together with regular brand equity research that measures the “brand health.” In a changing world, brand positioning needs to be reinterpreted by its leaders to fit a variety of situations. A brand positioning research helps leaders reposition the brand to fit current market conditions, and to anticipate future market trends and shifts.
Brand positioning research is essential for companies looking to succeed in product innovation. It helps companies understand how to position their brand in the market to achieve maximum impact and success. With insights gleaned from brand positioning research, companies can not only innovate in products and services, but also in traditional and purpose-led marketing campaigns. By aligning teams and customers towards a vision that impacts the world and society, companies can accelerate innovation and consumer-centricity and focus on their value.