How to Build a Compelling Competitive Strategy

In this course you will learn how to build a robust competitive strategy that positions your business strongly against your competition.

Contrary to popular belief, your business should have plenty of competitors. Thriving competition shows you’ve pinpointed a viable market. Defining and segmenting your competitors helps you better articulate your company’s unique value, while reassuring investors that your offerings will fill an existing need others recognize as an opportunity. In this lesson, we’ll delve deep into the competition, with strategies for identifying and evaluating competitors and classifying them to discern where opportunities lie to fill gaps in the market.

The competitive matrix is a graphic that highlights your unique strengths vis a vis other players in the space. The visual snapshot is easy for investors to parse — but it’s more than a pretty picture. As you identify your most relevant strengths and how you stack up against competitors, the process of developing a competitive matrix gives you a greater understanding of your market and your business, and a valuable marketing tool. This lesson will cover how to identify the most relevant strengths to plot on your graph, how to identify and evaluate competitors on the matrix, and how to position your business as a market leader.

The competitive matrix is a graphic that highlights your unique strengths vis a vis other players in the space. The visual snapshot is easy for investors to parse — but it’s more than a pretty picture. As you identify your most relevant strengths and how you stack up against competitors, the process of developing a competitive matrix gives you a greater understanding of your market and your business, and a valuable marketing tool. This lesson will cover how to identify the most relevant strengths to plot on your graph, how to identify and evaluate competitors on the matrix, and how to position your business as a market leader.