How to identify your competitive advantage
To identify your competitive advantage, you need to understand your competitors and your customers
: Ask yourself
- Why do customers buy from us
- Why do customers buy from our competitors and not us
- Why do some potential customers not buy at all
- What do we need to do to be successful in the future
Market research will help you to answer these questions. Good market research will reveal how your business is different from your competitors, and what you have to offer that appeals to your customers. In-depth customer research will help you identify your customers’ needs and increase your competitive edge.