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a good positioning statement addresses all of these except

Your Customer Avatar is a made-up character of true attributes of your customers. They’re not really positioning themselves against their greatest competitor, Lyft. © 2009 Forma Life Science Marketing, Inc. All rights reserved. Initially, focus on writing a positioning statement that’s used only internally. Download this Brand checklist to be sure. If you’d like to explore the importance of benefits and functional differences further, please read our whitepaper, Using Two Dimensions of Positioning to Create a Competitive Advantage in the Life Sciences. Here we go. Your unique benefits should truly be motivating, compelling advantages for the target audience. David has authored articles published by Life Science Leader, Impact, and PharmaExec magazines and MedAd News. Positioning Statement – is the description of the company’s objectives for a specific strategy.It helps set the business apart from its competition. David serves on the board of NCBio. There are many possible templates for positioning statements, and in some of them, your brand’s competition may be referenced. And what’s their hook? The centerpiece of the position is often a tagline communicated externally, but positioning statement itself is meant for internal purposes only. He has taught at the Kenan-Flagler Business School at UNC-Chapel Hill and at the College of Design at NC State University. Decision makers within start-up companies (filtered by stage of growth) responsible for choosing development partners supplying toxicology services (filtered by function), C-level employees with extensive scientific training (filtered by educational level) who are risk-averse (and whose data is recorded in, Contract manufacturing organization specializing in lyophilization (filtered by specialized services), or, Manufacturer of high-volume diagnostic equipment (filtered by product) for core laboratories, or. If you choose this strategy, consider carefully what this will mean for the future of your brand, as defending your claim may be difficult. to launch the new product. He was named Best Consultant in the inaugural 2013 BDO Triangle Life Science Awards. Here are some key points that are important to understand as you create a positioning statement. Specific benefits are better than general benefits. It does not matter what you think or believe, as you are NOT (in most cases) a member of the audience; for positioning purposes it only matters what the audience thinks or believes. Your positioning will be stronger if the benefits delivered are unique. Examples of market context for other life science companies could include: The unique benefit delivered is one or more benefits that the brand can supply. The typical answer is “No,” so the claim is not unique. 3. Read on to learn more about what makes a successful brand positioning statement and how you can create one for your business. Simply saying that you’re “higher quality” doesn’t mean anything. The purpose of writing a positioning statement during strategic planning is to ensure that all your marketing activities for a customer group are consistent and clear. Claims of technical superiority (e.g., uses 25% less reagent). Your brand’s positioning statement is essentially a 40-word elevator “pitch” that tells someone–anyone–who you are and what you do. Unlike traditional book retailers, Amazon.com provides a combination of extraordinary convenience, low prices, and comprehensive selection. identifies competitors' future positioning A ____________ is composed of a group of buyers who share common characteristics, needs, purchasing behavior, or consumption patterns. Your brand’s positioning statement is NOT your tag line, your elevator pitch or the introductory paragraph on your web site. What they do better: Low prices, good design, and offer almost every type of item you need to furnish your home. This can be even more difficult in a highly regulated life science market. Read below for a three-step process anyone can use to write a great positioning statement for your products. Competitive analysis addresses all of the following factors EXCEPT _____. Vice-presidents of research (filtered by title) at companies with annual revenues of $50-100 million (filtered by revenue size). 3. For staffing decision-makers at drug development companies with a pipeline of multiple compounds ready for clinical trials in the next two years (the target audience), MoniTrendz is the only clinical monitor staffing solution for phase I, II or III trials (the market context). You’ll note that this language is not graceful. Trying to condense everything that’s good and unique about your company into this one statement may feel contrived and impossible. A positioning statement clearly defines your brand’s position – that is, the “space” in your audience’s consciousness that you want to establish as belonging solely to your brand. Examples of reasons to believe for other life science companies could include: The positioning statement template is simple – after all, it only contains 4 key aspects that must be customized to each brand’s positioning. You can also use the positioning statement to communicate with the marketing services partners you will work with (advertising agency, designers, media buying, web marketing, consultants, etc.) It acts as a filter for making decisions about your brand’s marketing activities. What they do better: Low fares, no hidden fees (transfarency®), free checked bags, and no change fees. A graphic designer and digital marketer by trade, Tara (Brouwer) Kester started Shovel Creative in 2010 out of a passion for good design and customer service. 3. These proofs should be verifiable before purchase by a prospect; in other words, you shouldn’t have to already be a customer to verify the reasons to believe. Using the template provided here, you should be able to make a good start on creating effective positioning. The Customer Avatar experience: freedom to fly to her friend’s weddings without breaking the bank. These decisions include brand name, the product or … Do you remember Southwest’s old slogan “You are now free to move about the country”? These are specific emotions. The Brand Context consists of the target audience and the target market – the context in which the brand finds life. Whether you have extensive practice or not, I’ll provide a template in this article that can serve as a starting point for your positioning statement. Since the target audience and market context are typically the same for most of your competitors (though they, too, can provide opportunities to carve out a distinctive position), either the benefits delivered or the reasons to believe must be unique. Amazon.com used the following positioning statement in 2001: For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. Proprietary software for tracking samples being shipped to clinical sites, or, A guarantee related to cost, such as a low-price guarantee, or a money-back guarantee, or, Compliance with existing regulations (e.g., approved by the FDA or listed by UL), Historical validation (15 years of experience). They’re not perfect. It also provides you with the opportunity to let the client know your intentions before you discuss anything. The following is one that we have found very useful. Again, if you can’t answer “yes” to all of these questions, then circle back and refine your statement until you can. Positioning Statements vs Mission Statements Definition. As covered in the last two issues of this newsletter, positioning defines your brand’s Context, Promise, Personality and Values. Let’s examine the components of this positioning statement one at a time: The target audience is a clear, focused description of the core prospect. Required fields are marked *. First, let’s look at the Positioning Statement template and a fictitious example. So what’s their formula for a brand positioning statement? Let’s just call her Bridesmaid Beth. You’ll also want to assign “psychographic” attributes such as life and business goals, values, and pain points. A mission statement should include all of these components EXCEPT: A. In essence, the Brand Promise covers how customers will benefit from the choice of your brand, and why a customer should believe that these benefits would be available to them once they made this choice. 4. So you’re tasked with figuring out the brand positioning  statement of your company or the company you work for and don’t know where to begin. Market analysis addresses all of the following factors EXCEPT _____. 1. List objective, specific ways how your company provides a better service or product than anyone else. The challenge is that whether you ask Google or a million people with a marketing degree, there is hardly a consensus on the end-all-be-all definition and formula of a brand positioning statement. Good question. You would no more share your positioning statement with your audience or your competitors than you would share the details of your business plan. No other competitor should be able to write an identical positioning statement. Crafting a Clear, Effective Positioning Statement for Your Life Science Brand, Important points about your positioning statement, Focus on your core audience, not every audience, Common mistakes in writing a positioning statement, Using Two Dimensions of Positioning to Create a Competitive Advantage in the Life Sciences, Positioning is one of the most crucial aspects in marketing your life science brand. The positioning statement should be approached from the point of view of your target audience. If not, either your brand is a commodity, or your positioning is not defined specifically enough. Though few of these brands have expressed their brand positioning statements this simply, we’re going to take their mission statements and do it for them. Now that you have your brand positioning statement, now what? Do you have all the components of a successful brand? Let's conduct a quick evaluation of this real positioning… (Product Name: Southwest) enables (customer: Bridesmaid Beth) to experience (what: freedom to fly to her friend’s weddings without breaking the bank.). This describes the target companies, the roles/functions within those companies, and/or the people who fill those roles. The template I’ll use in this paper will cover the Brand Context and the Brand Promise. They’re the easiest way around with just a tap of a button, you can get rides anywhere and any time of day, it’s low-cost to luxury (you choose), it’s reliable, no phone calls to make, no pick-ups to schedule, and it’s a safe, affordable and convenient alternative to driving if you’ve been drinking. Positioning statement is important as it helps the product or service connect with the customer. Though it may read like something from your promotional materials, your positioning statement is an internal tool. It is private language that acts as a decision-making filter for your public communications. Your email address will not be published. There is a tendency to define the audience too broadly. So let’s dive in and see examples of the leg work mentioned in steps 1-4 and then apply that to the formula for these brand positioning statement examples below. Don’t worry about this; short, euphonious language is appropriate for touchpoints (taglines, headlines, etc), not for your brand’s positioning statement. If those tools are not yet in place, but will be in the near future, it‘s okay to create a positioning statement that reflects the availability of these tools. The issue of Brand Personality and Values is a larger topic that can be tackled in a future issue. Basic types of products or services to be offered B. Let’s call Uber’s Customer Avatar City Sam. Sample Positioning Statements. A positioning statement is an expression of how a given product, service or brand fills a particular consumer need in a way that its competitors don’t. lets look at some good positioning statement examples. Friendlier than anyone else? The Brand Promise is the unique benefits available from this brand, and the reasons to believe that the brand offers for this promise. We were so happy with our web design from Shovel on a major project that we continued with them on retainer. Please note that these benefits and the following reasons to believe are not filters that narrow the target market. Their Customer Avatar: IKEA says in their mission statement that they’re “for the many people”. It is a no-nonsense statement of how your company is perceived in the minds of your target market.Put simply, a positioning statement explains how your product, service, or brand fills a customer's needs better than your competitors. As in most marketing activities, this is easier if you clearly understand your target audience, and their attitudes and behaviors related to purchasing. Download this Brand checklist to be sure. It is crucial that this benefit – or combination of benefits – be unique. David has a Bachelor’s degree in Physics from Swarthmore College and a Master’s degree in Design from NC State University. In some circumstances, however, it is acceptable to write your positioning statement based upon future events. Second. 10. I love Southwest. And here’s a tip—this statement can and should be used for the main message on the top area of your homepage. Forma works with life science organizations to increase marketing effectiveness and drive revenue, differentiate organizations, focus their messages and align their employee teams. Even experienced marketers struggle with this and prior practice definitely helps. The brand positioning statement: (Product Name: IKEA) enables (customer: Starving Artist Sarah) to experience (what: accessibility to a well-designed, affordable furnished home.). In the fictitious MoniTrendz example, the market context is clearly defined as clinical monitor staffing solution for phase I, II or III trials. Digital Marketer teaches digital marketing agencies how to be better digital marketing agencies. Identifying what truly makes your brand unique may not come easily – but will be time well spent. How it makes Starving Artist Sarah feel: stylish and included. The positioning statement is created to help the company sell more products, by better appealing to the customer segments and promoting the products and services. Positioning is about differentiating your brand from your competitors, so the language that describes your positioning is very important. Do you have any unique systems or processes that no one else uses? In our experience, while it is easy to develop a list of benefits that a brand will supply, it can be very difficult to identify clearly which benefits are unique. Identify what the second and third steps mean for the experience of your Customer Avatar when they interact with your brand. If your business were a movie, this would be the tagline. It helps you maintain focus on your brand and its value proposition while you work on market strategy and tactics. After you have your list of all of the specific ways that your company delivers a better product, write next to each of those items how it makes your Customer Avatar feel. The Customer Avatar experience: ease and convenience when a car arrives at his location almost instantly with one tap of a button. Just kidding. Do you perform your service faster than anyone else? In less than 5 seconds it tells your visitor who you serve, what you do, and why it’s uniquely better than any of your competitors. It’s pretty simple. Here is the Positioning Statement template: Here’s a specific example, based on a fictitious clinical trial staffing company that we’ll call MoniTrendz (and as they say during movie credits, any relationship to any actual company is purely coincidental). In other words, it is a marketing tool. (Product Name) enables (customer) to experience (what). She also enjoys singing and playing her guitar. They'll always be our first choice for web projects. In the future, you […] Every brand decision should be judged by how well it supports the positioning statement. Your brand’s positioning statement is strategic in nature. A positioning statement is one sentence that succinctly identifies the target market and spells out what you want them to think about your brand. A brand positioning statement is a document that’s been created for a business and its brand. Well, they shouldn't be. So let’s break down their brand position: 1. But it’s not impossible. The brand positioning journey. It is possible to claim a very broad marketing position, if you do it before your competitors. Just remember to remove the name of your Customer Avatar for public viewing. Sales consultants to pharmaceutical company sales organizations calling on clinicians (filtered by end consumer). You can get a good start towards creating a solid positioning by using this template as a framework – filling in the blanks with the details of your specific situation. They take the time to get to know our business and goals and because of it, they are able to offer great creative direction. That’s fine, but remember that the purpose of a positioning statement isn’t to be cute. (And having a positioning statement saves you tons of time in the long run.) No part of this document may be reproduced or transmitted without obtaining written permission from Forma Life Science Marketing. a. overall level of demand b. trend of demand c. government regulations d. geographic location of demand e. market analysis addresses all of the above factors (c; Easy; p. 73) True/False 11. Every company says that. Between the internet and the old-fashioned approach of just being a customer of your competitors, you can figure this out. I’ve seen their marketing campaigns appeal to the weekend warrior, the business traveler, and the friend who always has to fly to the next friend’s destination wedding. Once you have gathered your competitors’ positioning statements, perceptual mapping makes it easy to see how you are positioned relative to them. Sound intimidating? The following positioning statement example was used by Amazon.com in 2001, when it sold books almost exclusively: For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books. You’Ll also want to create the proper image in your audiences ’ mind old-fashioned approach of just being a good positioning statement addresses all of these except of. Brand position: 1 and offer almost every type of Customer, relative to them who fill those roles if! 'Ll always be our first choice for web projects is often a tagline communicated externally, positioning., Pantone, Activision, THQ, and in some of them, your positioning is defining what your... A roster of satisfied clients ( the reasons to believe that the brand Promise is the crucial! Positioning formula development of a positioning statement sounds like a tag line your! 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