Value proposition: It is better to know what criteria potential buyers use to choose one product/service over another. Identify a few criteria. e. Position of the existing products: Our product/service always has a relation to our competitive products. We have to see how our brand is perceived. Ultimately, we choose the best position. If that is already occupied, we think of taking the leader head on if we are strong or by-pass the leader and find other position. A concise positioning statement first describes what is important to the customers, and then what problem our product will solve for them, and how.
Positioning is amenable to the following definition: 1. The position of a brand is the perception it brings in the mind of the target consumers. 2. This perception reflects the essence of the brand in terms of its functional benefits in the judgment of that consumers 3. It is relative to the perception held by a consumer of competing brands. The competing brands can be denoted as points or positions in perceptual space of the consumers and together make up a product/service class. 4. Positioning process consists of analysis of brand equity, core competencies, unmet consumer needs, competitive differentiation.