Practical Steps for Creating a Product Positioning Statement

By Wendy Covey | CEO and Co-Founder

Congratulations! You've created a product, figured out your pricing and distribution model (not to mention a ton of other details), and are ready to bring it to market. Or almost ready. First you need a positioning statement.

product positioning statement

What is a positioning statement?

A statement or set of statements specifically used to create an image in the mind of your customers. It is how you want them to visualize your product in relation to the market and competition.

positioning statement graphic

A successful positioning statement will address all these components.

Moving From Ideas to Clear Direction

From To
Cool Technology Benefit
Vague Precise
Meandering On Target
Everything and Anything Specific and relevant
Also ran A front runner

Positioning statements should be created before beginning your marketing efforts, since it gives focus to your marketing efforts and influences your company branding. Your positioning statement is a core component of marketing activity.

Positioning is Core to Strategy

Marketing Strategy_

How do I go about creating my positioning statement?

Step 1: Deep thinking and research

This includes asking yourself some questions, such as "What business am I in, and how is it different?" "Who is my target audience, and what needs do they have that I can solve?" "What are the key benefits of my solution?" To thoroughly answer these questions, you will need to do some market and customer research. This could be done informally through customer interviews, social media, and Google searches, or more formally by engaging a formal research project. Don't assume you know it all -- validate your ideas and thoughts. Through this process you may find yourself aligning your product's strengths to customer needs and care-abouts, perhaps even tweaking the product itself.

Step 2: Create Your Positioning Statement v1.

Positioning Statement-2

Congratulations! You've created your first positioning statement. Have I mentioned yet that this is an iterative process?

 

Step 3: Repeat steps 1 and 2.

You will leverage your positioning statement like crazy, once finalized. Your sales force will become masters at delivering it. Your marketing efforts will incorporate it into everything they do. Get it right at the beginning and save yourself what could be a very costly mid-stream change down the road.

 

Step 4: Unleash your marketing communications strategy. 

Begin with the communications brief and message matrix. This is one of several areas where your positioning statement (and underlying research data) heads next. Your internal marketing leader or TREW Marketing Virtual Marketing Director will create segmented messages based on identified targeted audiences.

Communications Brief Components

Creating a thoughtful product positioning statement will take you far down the road to success, and prevent costly mistakes once moving into sales and marketing execution. TREW Marketing offers coaching services to help you develop your product positioning statement and make the transition into marketing strategy. 

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Wendy Covey

CEO and Co-Founder

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