This artifact visualizes the positioning of one's company compared to the competition with a focus on key differentiators.
Contributed by: Claire Van de Voorde
Situation: My customer had secured a budget for a technical overhaul but wanted to make sure it would have a business impact and not only a technical one. He was afraid of losing ground to competitors by focusing only on tech debt. He had checked online at the new features but had not stepped back to think about positioning. So he hired me to work on his product strategy.
Purpose: I wanted to visually highlight where the company stood on the market, and what strengths it should focus on. I inspired myself from the Blue Ocean Strategy model, to help them define a winning market.
What we did after: This work highlighted that they should likely not target low-cost SMBs (their initial plan) while their strength was high-cost custom dev. We developed a strategy to target markets in high-demand of custom development where competition could not follow. We used this document at the Executive Committee level to justify the new positioning and related investment.
Our company benefits from its brand image and its history (security, robustness, excellent support). Tailor-made projects allow increased personalization of the interfaces to capture the major corporation market.
However, we market ourselves as easy-to-use but the historic solution (paper) was simpler to implement. Our product has been designed by experts for experts (internal use) rather than customer/buyer oriented and ergonomic.
Our most dangerous competitors position themselves precisely on ease and ergonomics (off-the-shelf solution). They've captured the SMB market and are moving up-market. They offer an all-in-one tool with no service cost.
Based on our competition analysis, we've decided to focus on safety, personalization, and ease of use. We are already the market leader for the first two and believe we cannot make a dent in the competition without working on the latter