From the course: Business Development Foundations: Researching Market and Customer Needs
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Unpack the competitive landscape
From the course: Business Development Foundations: Researching Market and Customer Needs
Unpack the competitive landscape
- Who's your competition? If you're like most business development reps you can probably name three to five firms that provide a similar solution to yours. But what if I told you there are huge competitors taking business away from you and you don't know much about them. It's true. You see, we tend to compare ourselves to the companies that do the same things we do. Targeting the same customers with similar products for a similar price. And those are indeed competitors. We call them direct competitors. In a product side by side, they're who's on either side of you. A competitor is anything that competes for the resources and attention you're trying to get. It's anything that affects your buyer's purchasing behavior and would cause them to not buy from you. And there are three types of additional competitors you should be prepared to address. The first is the exemplars. These are the organizations who are in your industry but they set the bar for everyone. Our friend and colleague…
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