What is a Positioning Statement?
When preparing to launch a new product, it can be easy to get lost in the process and overlook key steps. Just as it is important to understand your customer, it is equally as important to understand your own brand. A positioning statement provides a brief description of a given product or service and defines how that product or service satisfies the needs of the target market. It is an internal tool that can be used to ensure marketing efforts are aligned with both branding and value proposition.
An effective positioning statement begins with your value proposition. Value propositions are much broader than positioning statements- they identify the target audience, their pain points and define how your product is the solution. This serves as a good starting point for your positioning statement, which will focus on how you want the public to perceive your brand.
Branding is a crucial part of business development. In fact, presenting a brand consistently across all platforms can increase revenue by up to 23%. To better define your brand, examine the history of your competitors and the market you are entering. Decide what position you want your product to take in consumer’s lives and use this information to determine what sets you apart from the competition.
Your positioning statement should be brief, unique, and memorable. An effective positioning statement:
- Includes a credible claim of what your product offers to consumers
- Defines how your product will deliver on that claim
- Explains how you are different from your competition
The positioning statement should be clear enough to guide future business decisions and used to evaluate how those decisions fit into your brand as a whole.
Marketing and positioning are an integral part of the process for product-based companies, and it is important to ensure that these statements translate successfully to the product. Up-Rev can transform key marketing and user-focused messages into functional requirements, ensuring that the final product satisfies consumer expectation. We understand the challenges of bringing a new product to market and are here to see you through all stages of development. Our combined expertise in engineering, manufacturing and professional services allow us to deliver a final product that meets your needs.