Product Positioning Template

• Define Your Target Audience: Identify the individuals or entities most likely to purchase your product or service.
• Articulate the Problem: Uncover the pain point your offering addresses for your customers. Understand how this problem affects them and delve into the emotional aspects they experience when confronted with it. This insight will inform your product's design and marketing strategy.
• Understand Market Dynamics: Gain clarity on the broader market characteristics. Study what other products or services your customers typically engage with, their purchasing patterns, and the triggers that prompt them to switch between offerings.
• Competitor Analysis: Compile a roster of the existing companies operating within your market. Determine whether these entities could be potential collaborators or competitors. Study their business models, dissect their successes and failures, and pinpoint their most significant challenges.
• Craft an Elevator Pitch: Develop a succinct and compelling pitch that encapsulates your customer base, the predicaments they encounter, and how your product stands uniquely poised to alleviate their issues.
• Refine Competitor Focus: Armed with your refined pitch, scrutinize your competitors closely. Document their strengths and weaknesses in relation to your own offering.

When should you conduct product positioning exercises?

Product positioning exercises should be conducted whenever you are preparing to introduce a new product or venture into a new market. Additionally, periodic product positioning assessments can help you stay attuned to market developments and changes affecting your product's standing.

The FigJam product positioning template is a versatile tool that can be tailored to your specific requirements. Engage your team members by inviting them to collaborate on the expansive board, facilitating brainstorming sessions and data integration. Leverage features such as chat mentions and video calls to foster discussions and idea sharing. Once the exercise is concluded, the board enables you to seamlessly generate a presentation, print a hard copy, or distribute it among stakeholders for valuable insights and feedback.