Define how your brand’s offering is unique and how it provides a distinct benefit to customers.
Refer to customer personas to determine which segment of the market you want to target. Ensure the segment is profitable, for example, a market opening that represents an opportunity. Describe your target market according to their specific needs and goals. Referring to, or conducting market research will help.
Define your USP by identifying what differentiates your product or service from similar alternatives.
For example, McDonald’s positions itself as family friendly rather than fastest, cheapest, or best tasting, among its many competitors.
Write a brief statement defining one main reason your brand stands out from its competitors, from the customer’s perspective.
How does your differentiator help solve the customer’s problem or help them achieve their goals?
For example, don’t simply state you are the best for one reason or another, explain how.
Focus on the primary consumer needs and product benefits.
Choose how to position your brand by focusing on variables such as product characteristics, or quality or luxury, against your competitors.
For example you can:
- Position your brand based on product characteristics or benefits. For example, Toyota’s position in the market is reliability, Porsche’s position is performance, and Volvo’s position is safety.
- Position based on price by associating your brand with competitive pricing. For example, lower logistical and distribution costs allow supermarkets to price products lower than their competitors.
- Position your brand based on quality or luxury by communicating prestige rather than price point.
- Position based on product, a particular use, or application. For example, meal replacement products often target men for higher athletic performance and target women for being lower in calories.
- Position based on competition uses your competitors as a reference point. For example, a brand with a large market share already has a successful positioning strategy that you can mimic by offering a similar product, with similar benefits and price point, to attract and convert their customers.