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THIS IS WHY YOUR CLOTHING BRAND IS FAILING
THIS IS WHY YOUR CLOTHING BRAND IS FAILING
You first want to research the other players in the market, see what they’re good and not
good at, then take advantage.
Second: Figure out who those competitors’ customers are. Who are buying the
competitors products? What makes those products appealing to them.
Third: Analyze the products and price points. Note if these competitors are selling high
quality or low quality products and what their respective price points are. You may see
some brands selling very similar products but offering very different price points. Why do
you think that is?
Fourth: Figure out the Unique Selling Point (USP) of these competitors. Basically, what
makes them stand out? Why are they where they are? Why do customers keep coming
back to them?
Fifth: What marketing strategies are these competitors using? Observe any sales,
discounts, giveaways, promotions, freebies, and so on. Brands sell products and
services in different ways, and many use a variety of incentives to achieve this. Some
are easy like a sale, and some are more complex like an in-person scavenger hunt.
S is for strength
W is for weaknesses
O is for Opportunities
T is for Threats.
And that’s pretty much it. Look at your market, see how the competitors behave, and
adjust from there. One part of success is doing things better than others, so figure out
what those things are.
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Remember to fail forward, embrace happy accidents, and keep pushing forward, life is
full of peaks and valleys.