Position Statement

Posted in Marketing and Strategy Terms, Total Reads: 776
Advertisements

Definition: Position Statement

A position statement defines how a product or service of a particular brand can meet a consumer’s need in a way that other competing brands do not. A position statement may also be known as a brand positioning statement or brand strategy.


The process of positioning a product/brand entails identifying an appropriate market for the product and establishing our product there by highlighting the position statement, emphasizing how it helps meet the existing needs of the market.


A position statement may be written highlighting the following:

1. target customer

2. statement of the need (pain point) or opportunity

3. product name

4. product category

5. statement of key benefit, reason to believe

6. competitive advantage/unique selling point (USP)/ points of differentiation (PoD) over primary competitive alternative


Simply put, a position statement may be created as follows:

“For [target audience], the [brand/product] is the [USP or PoD] among all [competitors/ industry] because [reasons to believe].”

For example, say you want to introduce a new women’s fairness cream “Fair.ly”, you may position it in the following manner:

“For women; Fair.ly will make you look fairer in just 3 days. Fair.ly has milk extracts and promises to make you feel more vibrant looking and confident.”

 

Hence, this concludes the definition of Position Statement along with its overview.

Advertisements

Browse the definition and meaning of more terms similar to Position Statement. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary



Share this Page on: