I am sure you are new. So new you have no competitor. Just because you feel and think you have no competitors doesn’t mean you have no competitors. In fact, it might even be a fact that you have no competitors. But in your consumer’s mind, YOU will ALWAYS have a competitor.
Why? Because the consumer asks a very simple question in his mind, “What is this?” This three word question necessitates that he slots your product and service into a category in his mind. That way he can relate to it.
So you see, once he slots you into that category a slew of competitors appear in your consumer’s mind. And that’s the only list of competitors that matters.
Do you have competitors?