Competitor Analysis

To plan effective competitive marketing strategies, the company needs to find out all it can about its competitors. It must constantly compare its products, prices, channels and promotion with those of close competitors. In this way the company

Figure 12.1

Steps in analyzing competitors

Figure 12.1

Steps in analyzing competitors can find areas of potential competitive advantage and disadvantage. It can launch more effective marketing campaigns against its competitors and prepare stronger defences against competitors' actions.

What do companies need to know about their competitors? They need to know: Who are our competitorsV What are their objectives? What are their strategies? What are their strengths and weaknesses? What are their reaction patterns? Figure 12.1 shows the main steps in analyzing competitors.

Salehoo Secrets and Tips

Salehoo Secrets and Tips

As with any web site, SaleHoo has a number of features that will help you in buying products from around the world. Once you have an account on SaleHoo, which only costs a one-time fee, you can establish up to twenty named searches for products. After that, any time those items become available, you’ll be alerted.

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