Market positioning is a strategic process that involves creating an identity or image of a brand or product within the target customers minds. It is about influencing consumer perception of a brand or product in relation to rival brands. The objective of market positioning is to establish the image or identity of a brand or product so that consumers perceive it in a certain way.

Here are some examples of market positioning strategies:

• Cost/Price Leadership Position: Here, the company plays around with the pricing of the products/services to get a position in the market.
• Quality: This strategy is where a business positions itself as providing high-quality products or services.
• Niche: This type of market positioning targets a particular user group by offering a unique product or service.
• Luxury: A car maker may position itself as a luxury status symbol.
• Reliability: A battery maker may position its batteries as the most reliable and long-lasting.
• Fast and cheap: A fast-food restaurant chain may position itself as a provider of cheap and quick standardized meals.
• Premium: A coffee company may position itself as a source of premium upscale coffee beverages.
• Low prices: A retailer might position itself as a place to buy household necessities at low prices.

To create an effective market positioning strategy, businesses should identify their unique strengths and tailor their products or services to meet the needs and preferences of their target audience. A positioning statement is a brief description of a product or service and an explanation of how it fulfills a particular need of the target market. It is a must-have for any positioning strategy because it creates a clear vision for the brand.