From the course: Marketing Strategy: Competitive Intelligence
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Uncover strengths and weaknesses: Yours and your competitors
From the course: Marketing Strategy: Competitive Intelligence
Uncover strengths and weaknesses: Yours and your competitors
- [Instructor] Ski racer, A.J. Kitt said, "You have no control over what the other guy does. You only have control over what you do." Well, that's true, but think about the course you could take if you knew more about your competitor's moves. Uncovering their strengths and weaknesses gives you a more comprehensive view. Research will set you up to learn more. First, dive into the competitor's product to uncover the scope of what they offer and what's favorable in their customers' eyes. You can focus on product evaluation. A few essential questions you can ask to evaluate the competition's product include what's the range of products they offer? How long have their products been on the market? What are the positive attributes in the eyes of the customer? Are there any negative attributes? If you'd like a way to organize your answers to these essential questions, I've created a matrix to guide you. You can download it from the Exercise Files. Answer the matrix questions from the…
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