Watch time: 9 minutes 20 seconds.
Watch with volume for commentary.

Your tasks for this module

Step One:

1. Identify Core Needs: These are essentials your product or service fulfills.

2. Uncover Pain Points: Address frustrations or obstacles they experience.

3. Acknowledge Desires and Hesitations: From emotional needs to fears, recognise what drives or stalls them.

4. Understand Decision Factors: Evaluate how they assess risk and what reassures them.

Step Two:

Apply the 4Ps of Marketing

To stand out, revisit your 4Ps with a competitive lens:

• Product: What features make it unique? Is it simpler, faster, or more stylish?

• Price: Are you budget-friendly, premium, or somewhere in between?

• Promotion: What story are you telling? Is your tone bold and disruptive, or warm and inviting?

• Place: Are you reaching customers in the spaces where they’re most receptive?

Step Three:

Compile your list of competitors and industry brands and complete the below tasks: 

1. Pick a competitor and break them down using the 4 Levels of Competition.

2. Identify what they’re doing well and where they’re falling short.

3. Brainstorm ways to address those gaps for your audience.

Simplify and Shine

Let’s take these insights and make them actionable for your business. Share your thoughts, brainstorm ideas, and ask questions—I’m here to guide you every step of the way.

Once this is complete, head to the next module to conduct an industry and competitor analysis specific to Instagram.

Here is also a great article around the Marketing Psychology principles: https://mailchimp.com/resources/marketing-psychology-principles