What is the points of parity?
Points of parity are points of differences that competitors have over your brand that you need to counteract. They are places where you need to show you are as good as your competitors (not necessarily better) so that you can negate their advantage and refocus attention on your points of difference.
What is points of difference and points of parity?
March 2, 2021. A point of parity is any area where your business is the same as your competitors to be a buying consideration for your customers. Point of difference refers to the factors of products or services that establish differentiation.
What are competitive points of parity?
Competitive points-of-parity are associations designed to overcome the perceived weakness of the brand. A competitive point-of-parity may be required to either (1) negate competitors’ perceived point-of-difference or (2) negate a perceived vulnerability of the brand as a result of its own points-of-difference.
What are the ideal points of parity and points of difference brand associations vis à vis the competition?
Points of parity are the “must-haves” of any brand to be considered a legitimate competitor in its specific category. Points of parity are the reasons consumers add your brand to the list of alternatives for consideration. Points of differentiation are the attributes that make your brand unique.
What is points of parity examples?
For example, points of parity for a bank would include checking and savings accounts, branches in convenient locations, online banking, and plenty of ATMs. Most banking customers consider these as essential elements of the banking experience, and they expect them to be delivered at a certain level of quality.
What is leveraging points of parity?
Points of Parity – This means you have no chance of winning – no matter how compelling your point of differentiation is. Points of parity can be leveraged as both a defensive or offensive maneuver against your competitor, and fall under one of three areas: Category, Correlational, and Competitive.