Use this product positioning exercise to define where your product fits in the market and why it's better than alternative solutions.
Who would buy your product or service?
❓ Define the problem
What pain point are you solving for your customer? How does this problem impact your customers?
🔑 Define key market characteristics
What else do your customers usually buy? How do they buy it? What makes them switch products?
📝 List the other companies in your market
Are these companies your potential partners? Potential competitors? What is their business model? How have they been successful? How have they failed? What is their biggest pain point?
🚀 Design an elevator pitch
Your pitch should encompass your customers, their pain points, and how your product is uniquely positioned to solve their problem.
👇 Narrow down your competitors
Now that you have your pitch, list your competitors and their strengths and weaknesses relative to your offering.
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