Analyze your Competitions

1092493_trackIn every business there will always be strengths and weakness and it is important that you know yours. Knowing your strength gives you leverage over your competitors so you know which part of your business you would want to push on your marketing strategies.

It is also imperative that you understand your competitors weakness. This way you can develop a product or service that can fight the rival company using their weakness. But how will you analyze the competitor?

Here is a checklist of some points that you can investigate when analyzing.

  • Product/Service Features
  • Price
  • Indirect Costs
  • Quality
  • Durability
  • Perceived value
  • Customer relationships
  • location
  • delivery time
  • convenience
  • credit policies
  • customer service
  • social image

Photo courtesy of http://www.sxc.hu/

Published in: on November 26, 2008 at 6:07 am  Leave a Comment  
Tags: , , , , , , , , , ,