A positioning statement defines how the team and customers should think about the product/service within the market compared to its competitors. Generally a positioning statement is written in the final step of Segmentation, Targeting, and Positioning (STP).

A positioning statement should include these 6 elements: :–:

1. The target customer segment
2. The unmet needs and wants of those customers
3. What the product is
4. A key benefit of the product
5. Alternatives to the product
6. Why the product is better than the alternative

This template is a good starting point for crafting a positioning statement:

• For [Target customers]
• Who are dissatisfied with [products they have used]
• our product is a [Product type or category]
• that provides [key benefit]
• Unlike [competing products]
• we have [features that competing products don’t have]

Some products have multiple customers, such as those with a Multisided market or Segmented market. When that’s the case, it’s best to have a different positioning statement for each side or segment of the market.