Growing a successful business is hard. It takes focus and perseverance.
It also relies on a well thought out strategy – and the most important element of that strategy is the competitive strategy. How your company will successfully compete over time against your many competitors for the attention of your customers.
Differentiation
The key element of competitive strategy is differentiation – and ensuring that the selected points of differentiation are those which will have the most impact on your growth.
- What are the elements of the product or service
- Relative to each other, which elements are most valued by your target market (now and in the future)
- Relative to each other, which do you fulfil particularly well
- Relative to each other, which do your competitors fulfil particularly well
Defining your points of differentiation will allow you to more easily define your messaging (internal and external) and also allow you to create your integrated strategic plan, incorporating all the other strategy elements, to get you to a dominant position in your chosen sector or sub-sector.
We would be happy to support and challenge your differentiation thinking (and strategy). Please contact us.
