If you’re reading this, you probably already have a good business idea. If not, here’s how to find one. And while finding a good business idea is the first step in the journey to entrepreneurship; the second step is figuring out a way to position your business in the market so that it has the best chance to survive and thrive.
The key component in the branding process is positioning the brand. Positioning, consists of configuring how you want your brand to be perceived in the market by consumers in comparison to competitors or similar brands.
Historically, there were only a few ways to position a brand in the marketplace. Those with the largest advertising budgets typically were the dictators of where not only their brand – but also where other brands were positioned. However, with the pervasiveness of communication due to the internet, entrepreneurs and marketers now have more control than ever over how they position their brand.