Booklet

author

Seema Batavia

Marketing

Become Competitor Research Master

marketing

Marketing

|

Become Competitor Research Master
When you're rolling out a new brand or considering an overhaul, keeping an eye on your competition is NON-NEGOTIABLE. should be conducting continuous research.

YOUR RESEARCH SHOULD INCLUDE THE FOLLOWING:

MARKETING:
The channels and strategies they're using to engage with their audience

MESSAGING:
The language they're using for their products, services, and organization

BRAND POSITIONING:
How their offerings are perceived in the marketplace

WHAT YOU SHOULD BE MONITORING:

  • The entry of new competitors in the market
  • Any changes in existing competitors
  • Changes in consumer expectations
  • The evolution of digital and media landscapes
  • Globalization & economic changes

IDENTIFY YOUR COMPETITORS
First, make a list of all your competitors. They could be scrappy startups, brands trying to enter your market, or other markets developing ideas that make your product irrelevant. Check for the following:

Clarity of Message:

Are their brand and USPs consistent and effective across the board?

Design & User Experience:
What is the visual "experience like on their digital and traditional messaging platforms?

Fannel Efficiency:
How effective is their marketing across search, paid, social, email, referral, and offline channels?

Reputation:
How are they viewed, discussed, and rated by their customers, employees, and Industry as a whole?

Differentiators:
What mediums, tools, messages, or audiences set them apart from the rest of the landscape?

COMPILE AND MAKE SURE ALL OF YOUR OUTPUT IS SUPPORTED BY MEASURABLE DATA.
Without data, you won't be able to interpret it, draw conclusions and formulate a brand strategy.

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