avoid the overlapping value proposition
No brand is immune to competition. Even market leaders have their nemesis, and direct competitors keep a company from having the entire pie for itself. In many cases, competition can actually be mutually beneficial, as it keeps the competing parties from becoming complacent. In always trying to outdo each other, the companies push themselves to improve their brands and the products or services they carry. It is a welcome cycle that not many businesses want to admit (or enjoy).
Competitive analysis begins in much the same way a company would evaluate its own brand. You can examine your competitor’s value proposition in I3 terms based on their marketing claims. Find out exactly what they are saying that gives them an edge from their competition and compare that to your own unique selling points. If both of you are claiming the same thing, you end up canceling each other out on that factor, all other things remaining equal. I call this the overlapping value proposition: two companies making equally valid claims to a differentiator, neutralizing each other in the market on that attribute.
Take for example, Coca Cola and Pepsi. Both of these fizzy drinks are refreshing, affordable, and, for a time, they were actually marketed as health tonics. The Cola Wars are infamous in the marketing world. When it finally hit them that there is no use trying to convince consumers that one brand of soda tastes better than the other, they decided to go with more distinct (and emotional) approaches.
Content will be erased after question is completed.