Positioning

Positioning is the process of creating a product or brand image within a target market as well as in the target audience’s mind.

In other words, it's where your product/brand stands in the market and how you differentiate yourself from competitors.

The key elements of strong product positioning strategy are

• Target market (including specific category/niche)
• Brand promise regarding the customer needs
• Brand identity, values, and mission.

A positioning statement is an internal document that describes how exactly your product or service fills a particular need within its target market.