Not covering your addressable market entirely will result in missed revenue opportunities. Traditional routes to market are being replaced with innovative ways to reach customers. Packaging your products the same way as your competitor’s results in perceived commoditization and a race to the bottom. Price your products in a way that does not scale with customer growth and this will result in revenue leakage. Price your products in a way that is difficult for your sales channels to explain the change to your customers and watch your sales steadily decline.
- Competitive advantage analysis
- Customer experience
- Differentiation analysis
- False differentiation
- Uneconomic differentiation
- Unsustainable differentiation
With this step complete, it is now time for Step 6: Talent.