Competitive Advantage
Your product or service may have a technology or manufacture competitive advantage, which is core to engaging with your target customers. However, the key to this is an understanding of what is 'valuable' versus what is simply saleable.
The valuable competitive advantage builds brand benefits which retain and engage customers over time. Compeitive advantages that do not help to build a brand over time will always be commodity driven therefore requiring a constant new source of sales leads to maintain, let alone build, business value. To understand what your valuable saleable competitive advantage is, you need to understand your competitive framework.
From a marketing audit comes the elements of a competitive framework:
A marketing audit will provide you with a competitive framework for your company in terms of what you have to offer, the core positioning to enable potential customers to understand what you have to offer and how you can package this to best commercial effect – and this is for all stakeholders of the business, from employees to investors, to potential customers.
"CiA quickly identified the issues and undertook a competitor review and brand positioning which provided us with a better understanding of our competitive advantage, a new and consistent brand message and ‘look and feel’ to our customers. CiA has also developed and implemented a marketing plan to bring greater relevance and understanding of our proposition to a broader customer base." David Jackson – Founder and CEO |