2/10/22, 12:46 PMReading: Developing Positioning Statements – Introduction to Marketing I (MKTG 1010)1/10Reading: Developing PositioningStatements
2/10/22, 12:46 PMReading: Developing Positioning Statements – Introduction to Marketing I (MKTG 1010)2/10A Simple FormulaApositioning statementis one sentence that succinctly identi±es the target market andspells out what you want them to think about your brand. This statement should include±ve elements:1. the target segment2. the brand name3. the product/service category or frame of reference in which you are establishing thismarket position4. the key points of differentiation5. 5the reasons customers should believe the positioning claims.The brand consultancy EquiBrand recommends the following straightforward formula forwriting positioning statements:To [target audience], Product X is the only [category or frame of reference] that[points of differentiation/bene±ts delivered] because [reasons to believe].Four Alternative Positioning Strategies to consider
2/10/22, 12:46 PMReading: Developing Positioning Statements – Introduction to Marketing I (MKTG 1010)3/10The parts of the formula supplied by you (the marketer) are as follows:The“target audience”is a brief description of the segment you’re targeting with thispositioning strategy. For example:young urban males,managing partners in law±rms, orsmall business owners in the Paci±c Northwest.“Product X” is your product, service, or brand name.The “Category or frame of reference” is the category of products or services you’recompeting in. For instance:spectator sporting events,virtual assistant services, oremployer pension plan.The “points of differentiation/bene±ts delivered”explains both what problem yousolve and how you solve it in a different and better way than competitors.It highlights the competitive advantage(s) underpinning your positioning strategy. Besure to explain not just what is different about you, but why customers care aboutthat difference.The “reasons to believe” are any proof points or evidence that show your customershow you live up to your claims about how you are different and better.Let’s look at some examples of well-written positioning statements:H & R Block continues to ask “Who is doing your taxes?” but has evolved theircampaign positioning in 2019 to shift to who SHOULD be doing your taxes,under their umbrella theme of “Get what’s yours?”.