Next Steps

Once you have gathered your information, there are several ideas that you can use to help lessen the impact of the competition. For example, perhaps you have eliminated barriers that the competition has not been able to minimize for themselves. If you have partnered with a great distributor and the competition is struggling to get their product out to stores, you have eliminated a barrier.

As you decide what makes your product stand out from the competition (your unique selling proposition, image, or brand), you can decide how to position your product. You also need to create a name for what you have, because names stick in people’s minds. For example, when Apple Computers was ready to evolve, their product was called a Macintosh. They have moved from fruit branding to making their items personal through their “i” branding and products like the iPod, iPhone, and iPad. We’ll discuss branding in more detail in Session Eleven.