Third Marketing Pillar - Competition
Welcome to the third in a 5-episode arc where we're talking about the Five Pillars of Marketing. Before we can begin building a comprehensive marketing strategy for your business, we first have to understand your business. These five episodes are a version of an exercise I do with my consulting clients. They're assignments, really, that help us begin to understand what the product is and who it's for. Today we're discussing the Third Marketing Pillar which is COMPETITION. In the last episode we identified our Target Audience (our ICA), and this week it's about identifying other businesses that are also serving that same Audience. If marketing is about solving problems, then who else out there is trying to solve the same problem we are. Once we understand who our competition is, we can start to separate ourselves in the eyes of the consumer. But we're getting ahead of ourselves... because that's what the next episode is all about. As always this episode ends with a short assignment. If you want to download the Marketing Pillars Workbook you can do that by CLICKING HERE.
CONTINUING EDUCATION:
This week I'm linking to a recent episode of the Project Distinct Podcast with Scott McKain. Short and sweet (like 8 minutes), but packed with some valuable insights... it's all about the difference between being DISTINCT and ICONIC.