Step 1: Identify the Competitive Advantage:

To start with, you have to think like a customer; just think back when you last ordered a pizza. There must have
been a reason for ordering from that particular restaurant. Maybe it was the taste, the location, the delivery
speed, the price or some other value the restaurant offered you. That’s what you call the competitive
advantage.
Now, coming back to your business; why do people buy from you? Does it make them feel good? Does it save
them money? Does it make them smarter or help them avoid pain? Think of all possible options. Also make a
list of why customers buy your competitors. Think about as many competitors and their products and services
as you can. Compare the lists and do your analysis. The unique benefits that you offer are your competitive
advantage and this is what you have to highlight more in your campaigns.
 
Step 2: Prepare Yourself before Setting Sail:
To effectively gain competitive advantage in marketing, you have to keep an eye on what competitors are doing, when
they are more active and when not and so on. Your competitors would be spending millions of dollars each year on
marketing and to take advantage of this, you need to monitor them.

Step 3: Be Ready to React:

This is all about acting quickly, and being reactive according to the situation. There’s no specific guide to react faster, but
knowing some basic strategies can help you devise your own. A few of them:
• Align products with customer needs; identify the customer groups that can benefit the most from the products and services you offer and
target them only.
• Attack new markets; be the “first to market” where your competitors have not thought about yet.
• Target the unhappy customers of your competitors.
• Clearly express your competitive advantage to their audience. Do outsmart your competitors in ads positioning if you have a powerful
message!
• Expand distribution channels by hiring affiliates. Offer them commission better than the competitors, i.e. give them a reason to sell your
product and not the competitors’.
• Sign strategic partnerships.
• Emphasize more on better customer service.

Depending upon the industry, market scenario and consumer trends, you may find more options to gain
competitive advantage in marketing but the above discussed basic steps will surely help you despite new
competitors entering the market or existing competitors improving their own products or services.