This guide helps music store owners use a Market Positioning Map to compare competitors and identify opportunities to stand out. Understanding price, quality, and market gaps allows you to refine your strategy and strengthen your store’s position.

‍

Step 1: Pick Your Factors

• Decide what two things you want to compare.
  • Examples are price and quality or innovation and customer focus.
• Make sure these factors are important to your customers.

‍

Step 2: List Your Competitors

• Write down competitors like Guitar Center, Sweetwater, and local stores.
• Include online stores and specialty shops.

‍

Step 3: Draw the Map

• Draw a square and divide it into four parts (a quadrant).
• Label the sides with your two factors.
  • For example, “Low Price to High Price” and “Low Quality to High Quality.”

‍

Step 4: Place Competitors on the Map

• Put each competitor where they fit based on your research.
• Include your own store to see where you stand.

‍

Example Market Positioning Map

Next Steps

Action Plan

1. Look for empty spots on the map. These are opportunities where you can stand out.
2. Decide how to change your pricing, quality, or focus to move into a better position.
3. Keep checking your map as the market changes.

Additional Tips

• Listen to Customers: Find out what they care about most—price, quality, or something else.
• Watch Trends: See how other stores change over time and adjust your position if needed.
• Stay Flexible: Be ready to change your strategy if a new competitor shows up or the market shifts.

‍