Thursday, January 30, 2020

Who is your competitor?

Most people define their competitors too narrowly. The market is les segmented than you think it is. You may think you are selling chocolate-flavoured biscuits wafer. But the consumers think chocolate. You are competing with a chocolate brand but you think you aren’t. Think through who your competitors are carefully. 

If you are a small player, your biggest competitor is the largest brand in the category. Not similar sized brands with you.

Who are you selling to?

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