Knowing your top competitors and their rankings is crucial for several reasons. Firstly, it helps you understand your market position and how your business compares to others. Secondly, it provides insights into successful strategies and tactics used by competitors, which you can learn from and adapt for your own business. Lastly, it helps identify potential threats and opportunities, enabling you to make strategic decisions to improve your competitiveness.

Asked on the following book summary:

resource preview

Zag: The Strategy of High Performance Brands

Zag delivers an interesting and unique approach about the authors’ view on branding and marketing. Marty Neumeier has created what should be considere...

Start for free ⬇️

Download and customize hundreds of business templates for free

Go to dashboard to download stunning templates

Download

book summary Preview

View all chevron_right

Question was asked on:

Origin — Do you know who your business is? And can you say with confidence where your business has the most credibility? Purpose — You should be prepared to say what your purpose is in 12 words or less! Vision — Do you know and understand what your brand vision is? Be prepared to paint a clear picture of the future of your business. Riding Waves — Do you know what current or future wave your business is riding? Take some time to list the trends that will power your success, and study each carefully to make sure they match your business. Your Brandscape — Who are your top competitors, and how do they rank? The Only ___ That ___ — Brainstorm and decide what makes your business the "best and only" one to fulfill the promise or deliver the best experience? Complete the sentence: Our brand is the only ___ that ______. Add or Subtract — Less really is more. Know when to add, and when to subtract. Find Brand Loyalists — Who is in your brand community? How can you find ways for them to contrib...

Questions and answers

info icon

To ensure your brand's purpose is communicated in 12 words or less, you should focus on the core values and mission of your brand. Simplify and condense these into a concise, clear statement that encapsulates what your brand stands for and aims to achieve. This statement should be easily understandable and memorable.

The content does not provide specific examples of brands that have successfully identified and ridden a business wave. However, some well-known examples from the business world include Apple, which rode the wave of digital music with the iPod and later the smartphone wave with the iPhone; Netflix, which identified and capitalized on the trend of streaming services; and Amazon, which leveraged the e-commerce wave.

View all questions
stars icon Ask another question