The company must attractively position its product in the minds of its target customers. This is after the target customers have been selected, as well as an opportunity to win them over. The company’s unique value proposition is formally expressed in a positioning statement; here’s the HBS template.

The target customers are primarily prospective customers. 

The claim of being best at something and the support for it must be in the customers’ words or viewpoint. Two or more claims are acceptable if they can be supported.

The competitive frame can be narrow by considering direct competitors only, or broad by considering direct competitors, indirect competitors, and substitutes. 

While the positioning statement may look simple, the process of constructing it requires a deep understanding of customers, the competing alternatives available to get their jobs done, the market context, and the company’s chosen strategy in delivering its unique value proposition to customers. 

PS: Check out more articles on building products. I write to pay it forward and to clarify my thinking.