Discover more about your direct competition and your ease of entrance into the market.
- Now it's time to talk about new markets…and how you're going to approach your competition.…Every company wants to enter the market…with a competitive advantage.…To ensure you have an advantage in your new market,…you want to first create a competitor profile.…So what kind of data can you gather…for your competitor profiles?…Number one is recorded data that's obtained externally…in the form of published sources.…Published sources include your competitors'…product brochures, promotions, news articles,…and annual reports distributed by your competitors.…
The quality of the information will help you…to be more competitive and to also give you…an advantage with customers right from start.…Number two is the witness or observed data.…Some good sources of data you can observe…would be what you see when you go to a trade show…and visit a competitor's booth,…or the conversations you uncover through social media…that customers are having about the competition.…Number three is your ability to gather plan data…or your effort to set up opportunities…
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- Determine when it is necessary to build a go-to market plan.
- Define audience segmentation.
- Recall the purpose of a product vision.
- Recognize the benefits of a channel strategy.
- Explain how to use digital and social media to share your story and drive customers to engage with your launch promotions.
- Determine the KPI for four types of goals.
- Summarize the importance of flexibility when building a measurement model.