This is very close to home for me as I spent the last decade developing and advising businesses including Fortune 500 companies on competitive and growth strategies.

Ahead of thinking of the channels; that's easy, ask yourself, why?

Why, would a competitor's customer want my product over theirs?

The best exercise you can do in this case is a SWOT analysis:
You don't have to make it overly academic; look at your strengths and list them all. Then do the same with your weaknesses.

Then repeat the process for your competitors; do some research; look at their product quality, pricing, availability etc...

Then analyse the key elements of the value proposition:
> Product/ service differentiation: e.g. in value, in quality, in design, in exclusivity etc...
> Pricing: more or less than competitors; why?
> Channels: availability, access, speed, ease

Then go through the Opportunities and the Threats.
Identify how you could convince their audience that you have a better deal (avoid price wars unless you have enough market share and cash to ride the storm - this rarely ends well)

Then design your strategy; where, what, how, when

Reach out if you need more help; good luck