In this video, learn how to find helpful resources when researching your competitors.
- Today you can ask Google anything about a company. … There are thousands of entries from articles, … and research reports, to TV news, and interviews … that turn up in the search engine results pages. … The age of information technology makes it easier … to compile information on just about any company, … private, public, and nonprofit. … With research at your fingertips, … you can build comprehensive competitor profiles. … A competitor profile requires a mix of information … that you'll pull from a number of different sources. … Sure, Google is one way, … but we're going to focus on some different sources … that may not immediately come to mind. … But whether you hire an outside firm, … or you do your research in-house, … here's the type of information you want to uncover … about your competitors. … Financial revenues, sales volume, … marketing and promotional strategies, and so much more. … There are different ways to access information … about your competitors. … You can look into the following sources. …
- 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.