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Use an IP Matrix to compare your performance
to others

It is great to understand your customers' buying decision; its better to understand why they view your performance as superior to the competition's performance. That is your value proposition, the promise you make to your customers. "What they want" is ranked by importance and you measure your performance from the buyers' perspective. Add the competitor to assess your competitive advantage.

An IP Matrix comparing two firms

Some considerations:

  • A good marketing research company can provide a wealth of data; you are interested in the top 5 considerations in the buying decision.
  • The first time you measure, it is just a snapshot. You need to see the results over time.
  • You don't need a huge sample (about 1000) to see a pattern, 80 to 100 responses will highlight what you need to know.
  • Adjust the scale if all the scores are in the Excel quadrant.

On the next page, I show the presentation style I prefer with an adjusted scale to see your competitive advantage.

 

 

previous page Use an IP Matrix over time

IP Matrix - presentation style next page

 



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