Start Out Right With a Competitive Analysis
Learn what it takes to position against your competitors.
By Kim T. Gordon
It’s official. You’ve made the decision to start your own business. You know what you plan to sell and who your customers or clients will be. But how will you decide what your marketing materials should look like, or even what you’ll charge for your services? You’ll need to become an amateur sleuth and gather competitive intelligence to create an on-target marketing program and tailor your services or products to position against your competition.
It’s important to complete a competitive analysis during the start-up phase of your new business, about the time you’re putting together your marketing plan. In fact, if you get underway without performing a competitive analysis, you run the risk of producing marketing tools and product or service offerings that are way off the mark. This can cost you valuable time and money during the critical early months. You should also plan to gather competitive intelligence as your business grows in order to stay competitive.
Identify Your Competitors......[read more after logging in]
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