Positioning with April Dunford How To Think About Competition
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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.
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Competition as Buckets
- Competition is best thought of as groups or buckets of approaches rather than individual companies.
- This makes it easier to understand the competitive landscape and position effectively.
Leaders Should Avoid Naming Others
- Market leaders should avoid naming smaller competitors to not legitimize them.
- Mentioning competitors may cause customers to reconsider options unnecessarily, disrupting their purchasing process.
Slack's Open Letter to Microsoft
- Slack responded to Microsoft's Teams launch by publishing an open letter legitimizing Microsoft as a competitor.
- This move gave Microsoft a huge advantage by making them appear as a real threat on launch day.