Understanding the Distinction Between Competitors and Competing Alternatives (And Why It Matters)

In today’s episode, you’ll learn why understanding your competition is critical for positioning and how many people get it wrong. I share a story about the deceptive nature of data and why you need to carefully evaluate bad-fit customers. I talk about how to discover your true competitors and recount a story of a failed sales pitch that taught me the importance of clearly understanding your value from the customer’s point of view. I also dive into the story of Segway, why they failed initially, and why avoiding market categorization is a huge mistake. — In This Episode, I Cover: (00:00) Defining positioning (00:53) A story about how data can lie to us (05:25) Lessons on “bad fit customers” (06:52) How to think about competition (09:26) How to discover who your real competitors are (11:50) The question all customers ask (13:24) The benefits of great positioning (13:49) A failed sales pitch, and what it taught me about the importance of understanding your product’s value (20:45) Why avoiding categorization is a massive mistake (21:49) A story about Segway and why you need to position your product in a market category (25:37) Thanks for listening — Where To Find Me: Podcast Website: https://www.positioning.show/ Personal Website: https://www.aprildunford.com/ LinkedIn: https://www.linkedin.com/in/aprildunford/ Instagram: https://www.instagram.com/aprildunford/ — Production and marketing by https://penname.co/