At a recent entrepreneurial event in Vancouver, business coach Mark Wardell spoke about the importance of a business’ market position.
He suggested: Ask yourself, do your customers clearly understand why your business is unique and why they need you?
“The answer to this question determines if they will continue to do business with you,” he said. “Conversely, if you are seen as part of a homogeneous category of business, your selling prices will be dictated by your competitors.”
And, he stressed, this is not a good thing — especially in our current economic times.
Wardell also makes interesting points in a market positioning video on his business consulting website.