One of the most important things that needs to be done early to build a strong marketing strategy is an analysis of your competitors. Once we have identified who the competitors are and could be, we need to find a way to lay out the competitive differences. We call this “characterizing the competition.” This is not different from sports. If you want to win a game, the more you know and understand your competitors’ strengths and weaknesses, the better you can plan to win.
Competitive analysis includes understanding the product offerings, marketing, customer segmentation, pricing strategies, and sales strategies of the companies competing for your customers.
We can’t overstate the importance of understanding ...
Get Winning With Strategic Marketing now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
