With ever-increasing competition, it has become vital to distinguish your product or service from those of your competitors. Branding is one of the most effective and popular ways of establishing a unique and distinct image of your product or service. Through correct branding, employers are able to manage the way their product is perceived by the consumers. 

In today’s day and age, new products are being launched everyday and in such a time, it is imperative to convince the consumers that you have something unique to offer to them. In order to successfully compete against a product, a business needs to find its position in the market. This is known as competitive brand positioning. When defining one’s brand image, a business also needs to take into account their competitor’s brand image.

For instance, Red Bull and Sting are two energy drinks that serve the same purpose. However, due to their branding, they are able to target different segments of the same market. Red Bull was launched in the 1980s, as opposed to Sting, which was launched in early 2000s. Red Bull had already established itself well in the market by the time Sting was launched, and so it was important for Sting to differentiate themselves clearly from Red Bull. While Red Bull is seen as a playful and lively brand, Sting emits virtues like power and attitude. This is seen in everything from their advertisements to celebrity endorsements.

Once a business decides upon their desired brand image, it is essential to incorporate it every stage. The goal is to get the consumers associate the brand with certain ideas and virtues which the business can continue building and consequently capitalize on in the long run.