success - Turbo Coach, achieve breakthroughs - Brian Tracy

Study Your Competition
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Once you have determined what it is that you do better
than others in your career or business area, look outward.
How will you position yourself or your product or service in
the marketplace to capitalize on your area of excellence?
What sales and marketing strategies will you adopt? Based
on competitive pricing strategies, how will you price your
products or services?
Maintain the broadest possible scope when you are conducting
research on what the competition is doing. For example,
if you are in business for yourself, you may find that,
in some instances, the competition may not be another individual
or company. You may find that you are competing
against what appears to be another industry. For example,
companies offering land-based vacations are direct competitors
of the cruise industry. Both groups compete for the same
vacation dollars.
Our goal in this chapter has not been to devise specific
sales and marketing plans—we will deal with these in greater
depth at a later point. Rather, the objective is to ensure that
you are fully aware of the importance of competitive research,
have a plan to conduct the research, and are committed
to carrying it out. Having focus will greatly increase your
odds of achieving your career and business goals.
Application Exercise
1. Who are your most successful competitors?
2. Why do your customers or potential customers buy
from these competitors? What advantages and benefits
do they perceive in buying from your competitors?