Learning Stream Playlist
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Develop Your Competitive Matrix15 minAdd to My Watch List Expand buttonA competitive positioning matrix is a required part of every business plan. This in-depth walk-through shows how to create your competitive positioning matrix, starting with how to identify your brand's strengths—such as price, expertise, convenience, completeness or breadth of offering, and level of customization. Next, you'll learn to pair your brand's strengths and express them in the context of the X/Y axis of the matrix. Also covered is how to choose the competitors you'll include and plotting them so that your business stands out. Both Christopher Elbow chocolatier and Tesla are used as case examples.
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Plot Your Competitive Matrix Workshop4 minAdd to My Watch List Expand buttonTime to put pen to paper—or fingers to keyboard. Take a look inside the Prep Worksheet that prepares you to create a competitive positioning matrix for your business plan. The key to success is taking the time necessary to deeply understand your business and be prepared to run it—use this workshop and Prep Worksheet to do just that.
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 learning stream 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.
You will learn:
- How can I convince investors my company excels against the competition?
- Which of my company’s strengths are most important to emphasize?
- How should I select competitors to include on the matrix?
- How can I fairly rank my company and my competitors?
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