2-minute read
In a competitive market, the primary goal is to gain a competitive edge. Business leaders do this by learning as much as they can about the market.
The main idea is straightforward: customers purchase products to accomplish a task. For example, people don’t buy a drill bit just to have it. They use it to create a quarter-inch hole, allowing them to hang a shelf and organize their home.
When you start looking into your products, pricing, and what customers expect, it’s easy to fall back on old habits. This is often where strategies fail before they even start. Teams often ask questions like:
- “Is our price too high?”
- “What features should we add?”
So, where should you start your research?
Start with the outcome you want. Most companies start research by asking, “What do customers think about our product?” But that’s not the best place to begin. Instead, ask: What decision will give us a unique and defensible advantage?
Example decisions:
- What value can we deliver that competitors cannot easily copy?
- What specific customer segment will value it the most?
- What tradeoffs will we intentionally make (and which will we ignore)?
Your questions should help you make crucial decisions. Research isn’t just about collecting facts; it’s about finding insights that guide your strategy.
Why This Matters
Competitive advantage doesn’t come from just knowing what customers like.
Competitive advantage comes from knowing what customers value most, what competitors don’t offer, and what customers are willing to pay for and rely on.
The questions you ask in research shape what you learn. Average questions lead to average strategies. If you focus on competitive advantage, you’ll find insights that help you stand out.
Conclusion
Good research questions make strategy possible. They bring clarity, show where you can gain an advantage, lower risk, and help you focus creativity on what matters most.
The quality of your research questions shapes your competitive advantage. It’s both a design challenge and a test of creativity.
For more information, please refer to the blog post.
Jim Zitek
I turn complex product problems into creative solutions with a competitive advantage.
