Every repositioning program has to start with the competition in mind. It’s not what you want to do; it’s what your competition will let you do. And unless you have a wonderful new invention or you’ve stumbled into a monopoly, chances are that you have some killer competitors who are trying to take your business.

If you’ve been out of touch in recent years, just take a look at the number of choices that are out there.

An Explosion of Competition

What has changed in business in recent decades is the amazing proliferation of product choices in just about every category. It’s been estimated that there are a million standard stocking units (SKUs) in the United States. An average supermarket has 40,000 SKUs. ...

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