Comparing your market position allows you to assess how your company compares to your competitors in key aspects. For this purpose, you can use benchmarking, which is a comparison of your company's indicators with the results of your competitors, such as:
market share,
brand recognition,
number of active customers,
number of interactions on social media.
An equally useful tool is brand positioning analysis , which allow hong kong telegram data s you to determine how your competitors differentiate their offerings and how they are perceived by customers. This allows you to identify market niches or areas where your brand can stand out.
Positioning analysis can be carried out, for example, based on the brand pillars theory . In our case, we specify the following pillars:
brand pillars
Source: ABC Brand Strategy Course
By identifying what promise your competitors make, how they try to make it credible, what benefits they provide, what values they stand for, what language they speak, and what their main message is, you gain knowledge that can be extremely useful when you decide to position your brand.