Final answer:
Customers may choose your product over a competitor's due to product differentiation, competitive pricing, and excellent customer service. If your company is known for its exceptional support and responsiveness, customers may prefer your product over a competitor's, even if the products themselves are similar.
Step-by-step explanation:
Reasons the customer segment(s) will use your products or services instead of those from a competitor:
- Product Differentiation: One reason customers may choose your product over a competitor's is if you offer unique features or benefits that are not available from others. For example, if your product has an innovative design or advanced technology, customers may be drawn to it.
- Price: Offering competitive or lower prices compared to your competitors can attract customers. Consumers often compare prices when making purchasing decisions, so if your product is priced more attractively, customers may choose it.
- Customer Service: Providing excellent customer service can be a strong differentiator. If your company is known for its exceptional support and responsiveness, customers may prefer your product over a competitor's, even if the products themselves are similar.