1. Effective brand positioning requires identifying competitors, finding optimal points of difference and parity, and designing an inspiring brand mantra. 2. Alternative approaches to positioning include cultural branding, brand journalism, and storytelling. A company can also straddle two frames of reference by having one set of points of difference and parity. 3. Tools for positioning include perceptual maps and bull's-eye diagrams. Subway found success positioning itself as offering healthy yet tasty sandwiches, creating a point of parity around taste against McDonald's while emphasizing its point of difference in health compared to fast food.