Question

Topic: Branding

What Makes A Standard?

Posted by Anonymous on 1/22/2005 at 6:04 PM ET 250 Points
Standards are industry benchmarks that imply a certain level of quality or adherence to set performance criteria for a product. While standards don’t belong to one specific company or another, they seem to represent an opportunity to develop a competitive advantage, especially if one firm dominates (or becomes synonymous with) the standard. Think of Grade A Eggs, Intel Inside, salon-specific hair care products, New Homeowners Warranty, ISO 9001 etc. I’m curious as to what elements influence consumer acceptance of these standards….is it the “myth beside the brand”, the perception of quality, prestige factor….? Your thoughts....
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RESPONSES

  • Posted on 1/22/2005 at 10:42 PM Accepted
    I think there's some value to setting the standard, but there's more value in identifying an unmet consumer need and satisfying it before anyone else does or in a way that is perceived as being better in some way.

    Setting the standard is one technique for differentiating a brand, but it's not always the best one. I've used it successfully in a few cases, but mostly it's about striking a nerve in the consumer's unmet-needs list.

    Go through a formal positioning process and you'll know whether the "standards" approach is going to work or not.
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