In this video, learn helpful steps to consider before your team analyzes your competition.
- Of course in business, … having competition only feels good … when you have the appropriate team, time, … and resources to analyze that competition. … Here's the best way to set your team up for success. … Your competitive analysis team … should be qualified to handle the research … and analysis of the competitive landscape. … If you don't have the luxury of a team … and you're appointing one person to manage the process, … create a checklist of job skills to select the right person. … In most cases, you're looking for professionals … who are familiar with your industry, research, analysis, … and have strong writing skills. … Now you can develop a realistic timeline for your analysis. … Many companies feel the need to rush their products … and services to market. … This is the concern that I've heard … all too often from executives. … There isn't enough time to fully research, … but skimping on the research … will not lead to better positioning … and a competitive advantage. … Your messaging and positioning may suffer, …
- 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.