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In other words, you want to know how you are positioned in the market. Why do people buy from your business instead of from others in the same market? What do you offer, at what price, to whom, and how does your mix compare to others.
Think about specific kinds of benefits, features, and market groups, comparing where you think you can show the difference. Do you sell better features, better price, better quality, better service, or some other factor?
List the main competitors. What are the strengths and weaknesses of each? Consider their products, pricing, reputation, management, financial position, channels of distribution, brand awareness, business development, technology, or other factors that you feel are important. In what segments of the market do they operate? What seems to be their strategy? How much do they impact your products, and what threats and opportunities do they represent?
Make a general comparison of your offering as one of several choices a potential buyer can make. Determine how your product lines and retail offering compare in general to the competition.