It’s not what your customers want
It’s what your competition permits smart leaders and organizations to go broader. The question is not who your competition is but what it is. And the answer is this: Your competition is any and every obstacle your customers encounter along their journeys to solving the human, high-level problems your company exists to solve.
Weakness is strength
You are more secure when you attack the one which you
competition cannot defend.
Examine their weaknesses. Once again, be objective and dig deep! Just because you believe your competition doesn’t have an exact match of your features, consumers may perceive your features as a valid substitute. You aim to come up with 3 genuine weaknesses of their practices. Consider taking a look at the product reviews and customer comments for your competitors.
Your share of the target market will be equal to your attribute’s primacy and surrogacy in the prospect’s mind.
A target market is a specific group of people that you want to reach through your marketing campaign. These people are more likely to visit your online shop and make a purchase that any other random group of people. They have certain characteristics in common, such as their demographics or psychological and behavioral patterns.
When you zoom in on this market segment at the individual level, you have your ideal customer.
Strategic choice: To reposition the leader narrow your focus.
1)You want to get clear about your objective. What is your target?
2)Take a look at the gap between where you are now and where you want to be. This gap becomes your primary focus.
3)Take a deep dive into what’s getting in the way of you and your company reaching your goal. What are the roadblocks?
4)Once you’ve defined your biggest roadblock, you want to find out what’s causing it using the facts. Identifying the root cause of your roadblock is critical.