What kind of company do you aspire to be? Whether…
What kind of company do you aspire to be? Whether it is a new brand or an existing one, the brand positioning statement will lay the foundation of your brand in the market. It serves as the backbone of your brand, from product development to marketing campaigns.
This article is a helpful guide to enhancing your understanding of brand positioning, its importance, and key elements.
What Is a Brand Positioning Statement?
Branding, which is a type of marketing, is what differentiates a company from its competitors. A positioning statement (PS) is a concise, clear, and decisive picture of your brand.
Therefore, a brand positioning statement is a high-level marketing message that defines a company’s competitive position in a marketplace. It tells people what sets you apart in the marketplace and who you are as a product to potential customers.
Why Is Brand Positioning Important?
Your business has a brand, and your brand positioning helps define the idea for your perfect customer. Your brand message guides consumers to make a purchasing decision based on the quality and experience they will get. This makes your brand unique in your industry and more effective than that of your competitors.
Having the proper brand positioning can make all the difference in the world to how successful your business is. A brand can be frustratingly vague or amazingly sharp through its positioning statement.
5 Key Elements of Positioning Statement
The positioning statement encapsulates a company’s overall brand identity, which creates a frame of reference for a company’s target audience. It offers a concise summary of the company’s key messages, mission, and qualities.
It helps to differentiate the company and reinforce how others should perceive it. The five major elements of every positioning statement are:
Audience: Who exactly is your audience, and what do they need from you? Your audience may include current and potential customers, prospects, and interested parties who like your brand.
Challenge / Pain Point: What is the product or service solving for its customers? Your brand statement must address the actual pain point of customers and show how it can help solve their problems.
Key Benefit: Define the main benefit of your product or the key feature that makes it stand out from the others.
The Competitive Alternative: You need to identify why your company is different from your competitors and how you can differentiate yourself from them.
The Unique Point of Difference: Discover your product’s unique point of differentiation and emphasize it. This is to stand out from the competition and win over customers.
How to Write a Brand Positioning Statement
You must thoroughly understand how you want your company to position in the market to create your brand statement. Although it takes some skill to craft an effective positioning statement, the following steps will make the process easier.
1. Establish the Position of the Brand
Before establishing the positioning statement, you must develop a well-thought positioning strategy. First, you must understand the target market and what the customers expect.
The next thing is to analyze your competitors and what they do. Finally, identify a gap and develop a unique differentiator.
2. Ensure Alignment by Referring to the Internal Brand
Every good positioning statement aligns with something or has a reference point.
Make sure the internal brand is at the forefront of your mind when you draft your brand positioning strategy. This is the cornerstone of “who” the brand is, and it should reflect to maintain brand alignment and coherence.
3. List Each Element of the Positioning Statement
Positioning statements are a concise and concise analysis of what sets your brand apart from the others.
They have the mission, vision, and values of the brand. Each element of the positioning statement should be carefully listed to ensure it fits well with the overall statement.
4. Keep Your Audiences’ Understanding in Mind
The positioning statement is an internal document that should not be displayed to the customers. But the statement should be written keeping the customers in focus.
The reason is to ensure that no industry jargon is used in writing. Also, the audience can easily grasp it without any industry knowledge.
5. Integrate Your Sentences in the Positioning Statement Formula
You must have defined the specific elements into individual sentences. Now, it’s time to combine them into a concise and clear statement using the positioning statement formula. The formula could be structured in the following way.
- We Help > (AUDIENCE)
- Who > (PAIN POINT)
- To achieve > (KEY BENEFIT)
- Unlike > (THE COMPETITIVE ALTERNATIVE)
- Our solution > (UNIQUE POINT OF DIFFERENCE)
In short, brand positioning statements serve as the foundation for marketing a brand by providing a clear understanding of the brand. You must know what you are trying to convey.
This is to help you write a brand positioning statement that your audience will find interesting and valuable. With that in mind, you should now be able to enhance your brand projection and marketing efforts through the formula in this article.
Frequently asked questions
What are 4 elements of a positioning statement?
There are four parts to the Positioning Statement definition: the target, the category, the differentiator, and the payoff.
What are the 6 criteria of a good positioning statement?
- Does it provide an unmistakable picture of your services, product, or brand?
- Can you deliver on the promise you make?
- Does it get simple, focussed, and memorable?
- What are the implications of this for the marketing mix and other decisions?
- Do you have a target market?
What is Mcdonalds positioning statement?
McDonald’s is the family friendly fast food restaurant that makes cash low. The scope of a customer base is limited and we have a low cost strategy. In recent years, we have expanded our reach to attract more customers.
How do you develop a positioning strategy?
- An overview of the positioning statement.
- Compare your identity with competitors.
- Make an assessment of your market position.
- Understand the economic conditions in the marketplace.
- Develop a unique positioning in the market.
What is an example of a positioning statement?
The best coffee and espresso drinks are offered by Starbucks to consumers who want premium ingredients and perfection every time. It is not only Starbucks who values every interaction, making each one unique, but also pledges itself to the highest quality coffee in the world.
What makes a good brand positioning statement?
It describes exactly what your company does, for whom, and what differentiates you. Consumers within your category will create a niche for your brand.
What are the 5 common positioning strategies?
- The competition determines the placement.
- The quality of the product or its luxury.
- Price-based positioning
- Position based on the product’s use or application.
- Position based on product characteristics.
What is Nike’s positioning statement?
Nike’s Positioning statement is “For serious athletes, Nike provides confidence that provides the perfect shoe for every sport”. Nike has been waving the same banner for over 20 years, “Just do it.”.
What are the 2 major aspects of positioning?
A positioning statement should include four basic components: Target Audience – the demographic description of the core prospect. Customers who represent the brand’s most fervent fans. A frame of reference (FOR) is a category in which the brand competes.
What is Starbucks positioning statement?
Starbucks’s positioning strategy is customer-focused, offering more than what their customers want. Producing great coffee, the company promotes a good reputation among its target market through safe store environment, environmental protection, and sustainable development.
What are the 3 important elements of a positioning statement?
Here is the positioning statement’s three most important elements – audience, competitors, and the distinctiator. Audience: Who do you target with your messages and what do they expect/want.
What is Coca Cola positioning statement?
Coca-Cola products inspire happiness and make a positive impact on customers’ lives, while the brand respects the needs of its consumers.