Join Deirdre Breakenridge for an in-depth discussion in this video Profile your competitors, part of Marketing Foundations: Competitive Market Analysis.
- Today, you can ask Google anything about a company.…There are thousands of entries from articles…and research reports to TV news an interviews…that turn up in the search engine results pages.…And soon, we may be able to ask Alexa and Siri…the same questions.…The age of information technology…makes it easier to compile information…on just about any company,…private, public, and non-profit.…With research at your fingertips,…you can build comprehensive competitor profiles.…
A competitor profile requires a mix of information…that you'll pull from a number of different sources.…Sure, Google is one way,…but we're going to focus on some different sources…that may not immediately come to mind.…But whether you hire an outside firm…or you do your research in-house,…here's the type of information you want to uncover…about your competitors.…Financial revenues, sales volume,…marketing and promotional strategies,…and so much more.…
There are different ways to access information…about your competitors.…You can look into the following sources.…
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- Explain the benefits of a competitive analysis.
- List three elements to include in a competitor profile.
- Recognize the biggest challenge when researching your own strengths and weaknesses.
- Recall the advantage of knowing your competitor’s strategies.
- Identify three elements included in competitor research analysis.
- Define the elements that make up the SOAR framework.