If You Can’t Keep Up with the Competition, You can’t Compete

It may seem obvious, but you need to be able to keep astride with your competition in order to be able to attract customers.

If it’s clear to the marketplace that your opponents are scoring victories over you, customers will interpret this in a number of ways. Naturally, none of these will be favorable in terms of an assessment of your company.

Most business want to create a competitive advantage by improving their competitive positioning. But repeatedly losing out to your competition is a competitive disadvantage.

When a customer believes that you’re losing in the market, they assume it’s for a good reason. Perhaps you have an inferior product or customer service. Whatever the presumption is, you will be left dealing with the fallout. For this reason, always strive to at least be within striking distance. For more information on keeping up with the competition, watch the video featuring Geoffrey Moore.