Find the gap

What's your unfair advantage?

Do what your competitors can't.

If you're competing with big business, do what they can't...have a strong option.
If you're competing with international giants, do what they can't...connect authentically with the hearts of a local audience.
If you're competing with digital options, do what they can't...create a physical experience that customers will pay extra for.

If in doubt, combine all of the above and redefine the category entirely.

There is always a powerful strategic approach that you can adopt, which matches your strengths with an identified weakness of a competitor.

No matter how big or cash flush a competitor may appear, there will always be a weakness that you can target.
Find it and exploit it.