Have you ever wondered about where your business is positioned in the market? We have heard the 3 most important things in successful business: location, location and location. It may have been the single and most worshiped mantra in the olden days, however,  it is not quite proven true now that we are living in a practically more virtual world.

To understand your Brand Positioning in the market, you need to analyze your competitors and current consumer behaviors’ trends. Let’s take a look at these two points and dissect them one by one.

COMPETITOR ANALYSIS

Here are several ways to check-up on your competitors:

• Directories Book Search – Look for businesses offering similar services and find out how their physical location associated with a certain demographic advantages locally. Yellow Pages book is a good place to start and you can also look for other specific directories, i.e. modeling directories, creative directories, etc.

• Search Engines (Google, Yahoo & MSN) – Type a keyword that reflects the services or products of your business and add your city name to localize your search, i.e. “photography los angeles”. Try also different sets of keyword, i.e. “photographer los angeles” and “photo los angeles” and “commercial photographer los angeles” and “wedding photographer los angeles”.

• Online Business Directories – Search for businesses based on your zip code location and keyword in Yellow Pages or in Google Map. Type a keyword that is relevant to your business. Please see step details in Search Engines above.

• Social Networking - If you haven’t notice that people are actually using social networking sites to get connected with potential clients, vendors and fans; well, now you know. When creating your account, keep in mind that your information will be displayed for public and do not disclose any private/sensitive details to avoid identity theft.

• Affiliations & Professional Clubs – Reap the benefits of becoming a member of certain Affiliations or Professional Clubs in your field. Other than getting tips and advices from experts, mostly these organizations also update you with the situation of current market trends.

• Classifieds – Find out how consumers post their needs and how competitors list their services in local classifieds. While you are there, also browse listing in online classifieds, either from worldwide online classifieds’ giant like Craigslist or other classifieds engines.

• Physical Run Around – Last but not least; learn from the best. I believe there are still long-lived companies that have been established for more than 30 years (or even for two generations), are still operating in a conventional ways. No website, no advertising, but well known as one of the leading companies in the industry. Or on another end of the spectrum, these start-ups genius have just been launching their services and products to the market, with very limited budget, hence they have no website and no advertising budget. Drive around the city and ask around; and you may be surprised with what you can find in your local neighborhood.

CONSUMER BEHAVIOR ANALYSIS

Here are several noticeable facts in consumer behaviors that change the way we do business:

• Most people I know probably won’t leave the house without bringing their cell phone, which many has a GPS feature in it and connected to internet.
• Most people browse online to look-up for services or businesses first before they go around the city.
• Reviews of a service or product is no longer depended solely on the word of mouth but also influenced by internet reviews in forums or websites alike.
• Products and services are not limited to a certain radius around your business location but it has gone global.

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