It is the strategy you apply to #differentiate yourself in the market through competitors analysis, and deciding on the life cycle stage of the industry you are in.
The life cycle stage of any industry is the introductory, mature, growth or the declining stage.
The other things you need to consider to manoeuvre your position amongst your competitors are needs analysis, market #segmentation, and #ValueProposition for your customers.
Next, you need to identify the ‘domain’ where your competitors are the most vulnerable. Determine if you can ‘fill the void’ or #concentrate in these areas. This will open up a door of #opportunities for you.
Review your competitors and zero in on that one particular ‘thing’ that they can’t do and that you want your brand to be remembered for. Then you must go on and devise a long-term #marketing strategy to achieve this #objective.
You may also like to read this blog post about Anyone Who Keeps Learning Stays Young
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