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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- Building your go-to-market (GTM) plan foundation
- Assessing whether you need a marketing or GTM plan
- Entering new markets with a competitive advantage
- Developing your product vision and message
- Setting your product price at launch
- Setting up your channel strategy
- Driving better channel performance
- Evaluating KPIs and metrics
- Storytelling and the customer journey