Create a position statement. The position statement is a part of the strategy and communicates to those inside the company the any and all of the following:

· Placement within a market segment (which segments do you target?)

· Placement of the product relative to other products categories and application

· Placement versus competitors' products

· Placement of the product in terms of features and benefits

 

The position statement is critical to have in place before the marketing "production" work is completed because it ties everything together.

 

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