What is a product positioning statement ?
- Value propositions are important but in order to be most effective, they must be wrapped in a positioning statement
- This is how the customer will remember your product in their minds
- Positioning slogans are regularly used as building blocks in marketing communications. Using them:
- Products can be positioned (E.g. Caffeine Chocolate positioned as Red Bull meets Hershey)
- Brands can be positioned
- Companies can be positioned
- Positioning if often recognized by a slogan or a saying.
- The foundational pieces required for product positioning are:
- The market segment (and customer target) on which you are focusing
- The need states, motivations, or problems of the target customers
- The environment of the industry
- The competition and how each of their products is positioned
- The aspect that differentiate your product from its competition
- To craft a successful positioning statement, make sure you have your value proposition in hand as you work with template below:
An understanding of basics of product positioning and how to go about crafting one.
Source: Haines, S. (n.d.). The Product Manager’s Desk Reference.