Whilst you shouldn’t obsess over your competition, unless you understand what other choices your customer has, it will be next to impossible for you to stand out and be attractive. The types of questions you need to be asking are: –
- Who is your competition?
- What are they offering?
- What do you do better?
- What do they do better?
- How do you compare on price and value?
- How do they promote themselves?
Within this section, we’ve included some Masterclass videos and templates for you to use, to help you capture information on your competition. It’s worth reviewing your research every 6 months or so as new competitors will emerge and existing competitors will be updating their offers – so you’ll want to be making decisions about your product/service based on current information.
If you need any help customising this for your business, please contact us.
In this first of two masterclass videos on market intelligence, Deborah explains what marketing intelligence is. By the end of this video, you will understand why it’s important to understand who your customer is and how it can help your business to grow and be more profitable.