1. A definition of the target market you wish to pursue

2. A definition of the business your company is in or the industry or category it competes in

3. A statement of your point of difference and key benefits

The language of a well-crafted positioning usually takes this general form: To (target market), Brand X is the (definition of business) that provides you with (stated point of difference/key benefit).

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For example, "To computer manufacturers, Intel is the chip maker that provides the fastest and most reliable microprocessors available." Or, "To homemakers, Tide is the detergent that gets their clothes the whitest and brightest."

To define each component of positioning more completely, several questions need to be answered for each:

Target Segment Questions
• Would the customers we seek recognize themselves as part of this target market?
• Is the target market both identifiable and reachable?
• Is it clear why this target market would be interested in our point of difference?
• If we have not served this target market before, why do we want to serve them now?

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Definition of Business Questions
• What is the category, industry, or business we compete in?
• How has this changed over time?
• Is the business we are in internally-driven or externally-driven?
• Will the marketplace value and believe our participation in this business?

Point of Difference Questions
• Is the key benefit important to our customer?
• Can we deliver the benefit?
• Can we own this point of difference over time?
• Is this point of difference sustainable over our competition and their directions?

Brand Positioning Guiding Principles
1. A brand's positioning should be updated every three to five years, or as often as needed to update the company's overall growth strategy.

2. Positioning should drive all of an organization's brand strategies, as well as revenue and profit streams.

3. Senior management has to lead the charge in implementing a brand's positioning.

4. Employees, not advertising agencies, bring a brand positioning to life.

5. A strong brand positioning is customer driven and fits with customer perceptions of the brand.

Source of Reference
Scott M. Davis, Brand Asset Management: Driving Profitable Growth Through Your Brands, Jossey Bass. You can obtain this excellent book here

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