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Positioning with April Dunford
How To Think About Competition
Oct 26, 2023
Learn why it's a bad idea to name competitors as the market leader, real-life examples of companies naming competitors, the benefit of naming competitors when you're small, how to combat lies and negativity from competitors, and the significance of strong positioning and defending your territory.
23:24
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Quick takeaways
- When discussing competition, companies should categorize competitors into different buckets based on their approach to solving the customer's problem, rather than directly naming specific competitors.
- Market leaders should avoid naming smaller competitors, as this can legitimize them and potentially divert customer attention, instead they should focus on emphasizing their own strengths and advantages.
Deep dives
Positioning competitors without naming them
When discussing competition, it is often effective to talk about competing approaches without directly naming specific competitors. By categorizing competitors into different buckets based on their approach to solving the customer's problem, companies can position themselves against the entire competitive landscape without mentioning names. For example, a document intelligence company may compete with legacy document management solutions, enterprise collaboration software, and vertically specialized solutions. By positioning themselves against these different approaches, without explicitly mentioning the competitors, companies can highlight their unique value propositions and differentiate themselves in the market.
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