Positioning with April Dunford
Understanding the Distinction Between Competitors and Competing Alternatives (And Why It Matters)
Jun 8, 2023
27:00
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Quick takeaways
- Understanding your competition is critical for positioning, and assumptions about customer comparisons may be surprising.
- Bad fit customers should be excluded from positioning strategy to focus on target market and avoid irrelevant opinions.
Deep dives
Positioning is about defining how we win in a market
Positioning is fundamentally about determining the position we occupy in a market in comparison to other alternatives. It is crucial to avoid making assumptions about who our customers compare us to, as they might make surprising comparisons. Merely asking customers about their comparisons may not yield accurate results. For example, a survey conducted in a company found that customers provided inconsistent and diverse responses about who they would turn to if the company didn't exist. To navigate this challenge, it is important to carefully analyze the responses and identify patterns to obtain a clearer picture of the company's actual competition.
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