By owning a word in the mind of a prospect, your company can differentiate themselves from competitors and establish a lasting connection with consumers. It's a simple, yet powerful idea that has proven to be a valuable key to success in marketing time and time again. What word will you own?
If you live here in the South, you’ve probably heard someone ask for a Coke, but actually not want a Coca-Cola Classic, as the request might infer. In fact, they could want a Dr. Pepper, Diet Coke, Sprite, Mountain Dew, or another type of fizzy soda. It drives our friends from other parts of the country a little batty. So why do we do it? Easy. In this region, Coke has become such an iconic soda, it dominated the mind of many consumers, and became the dominate, instinctual request from a thirsty consumer.
Your company may not be ready to dominate an entire product line, but you can strive to carve out a niche with the public that helps you dominate a positive word. This word should encapsulate the essence of your company and what you stand for. For example, Apple became synonymous with innovation. Chick-Fil-A became synonymous with the chicken sandwich. It can work the other way, too. Remember when Exxon Valdez was immediately associated with “oil spill?” Hard to overcome.
It’s important to be as intentional as possible with your marketing focus, and try your best to burn a positive, one-word identity in the mind of your target audience.
(Adapted from "The 22 Immutable Laws of Marketing" by Ries & Trout)