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steps and 50 tools to analyze your competition and market

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steps and 50 tools to analyze your competition and market

We all know the benefits of good market research and good research on what our competition is doing. With the advent of digital marketing and Big Data, List Building for MLM you now have a lot of good tools to analyze your competition. List Building for MLM That is precisely what this post is about: a guide with the basic steps to analyze your competition and 50 tools that will facilitate your work. It may seem very obvious, but the starting point will be that you analyze who you compete with and why . List Building for MLM but entrepreneurs and small companies sometimes overlook this point that they should contemplate from the creation of their business plans. We are not going to get into a deep analysis of the competition because that alone would mean a whole article. List Building for MLM So let’s focus on two main groups of competitors: Direct competitors :

They are those who are targeting the same market as you and possibly selling the same service or product . This is the case of Coca-Cola and Pepsi, List Building for MLM Cannon and Nikon, Nike and Adidas, List Building for MLM Burger King and McDonald’s and thus a very long list of examples so forceful that you will know what I mean. This is also called “first-degree competition”, they offer the same solutions to identical problems and use the same distribution channels . Indirect competitors : They are in the same industry , List Building for MLM they target the same target audience, but their services products do not offer exactly the same . They use the same distribution channels and have other aspects in common. List Building for MLM This is more difficult to appreciate because it is more subtle and the degree of substitutability is involved. List Building for MLM This ” second-degree competition

would be between Coca-Cola and 7-up, for example. There is a third grade and we could continue to delve into the subject, List Building for MLM but we are going to leave it here. The most important thing is that you define very well who you are up against and why, at what point your goals as a brand and the solutions you provide intersect with theirs. Gambling Gmail List List Building for MLM If you still have doubts and don’t know very well how to determine who your competitors are at any scale, here are some clues to determine it: List Building for MLM Analyze the range of products or services they offer. The size of the company, how many employees it has. What geographic scope does it have, is it an international, regional, local company? What is your pricing strategy It is an ecommerce, do you sell physically, both?

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