From the course: International Marketing Foundations
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PESTCL framework: Competitive framework
From the course: International Marketing Foundations
PESTCL framework: Competitive framework
- When approaching an expansion into a new market, you want to look for opportunities in the market where you can be in the best possible position to win. You will want the best features that deliver the benefits most important to the customer, the best pricing that enables the consumer to value your product, or the perfect distribution outlet so your product is available at the precise moment someone is ready to buy. To figure out where to gain the advantage, you first have to understand where the competition is today. In this part of the analysis, consider who you'll be competing against and what they're offering to the market today and how realistic you think your chances will be of winning. To do this analysis, start by listing the major competitors you expect to face in the new market and then break them down on the four Ps of marketing. You'll first want to know about their product, what features it has, how it's packaged,…
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