Position Statement

Posted in Marketing and Strategy Terms, Total Reads: 481
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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.”

 

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