Failure to do this can lead to competitors having an advantage over you. Use all the marketing tools at your disposal to stay competitive. When you are trying to set your brand apart from the competition, know it is critical to do so each day....
Who are our competitors, and what do we do about it?(SALES CLINIC)Rickard, Joe
You can do a competitor analysis at a high level, or you can dive into one specific aspect of your competitors’ businesses. This article will focus on how to conduct a general competitive analysis, but you’ll want to tailor this process to match the needs and goals of your business.Why...
When you're building a startup, you're by definition engaging in business-model innovation. You're trying a business model that no one else has tried before. It would be unreasonable to expect that from the very beginning, you know with certainty who your customers are, what product you s...
When the entire organization is contributing story ideas, there is a sense of ownership and pride that carries through. Employees can be hesitant to mix business and pleasure, meaning they don’t always want to promote their company’s marketing efforts with their social network. Whe...
Your business plan’s key components should include: Executive summary:A brief overview of your entire plan. Company description:An explanation of what your business does and why it’s unique. Market analysis:Research on your industry, target market, and competitors. ...
Goals of your business, e.g., to brand awareness or to sell services and products Your target market and research on who they are and where they are Buyer personas and information on your customer demographics, if relevant Competitors, including their marketing strategies and pricing ...
Task: Research your competitors Imagine you're trying to raise money from a venture capital fund and you send them your pitch deck. One of the first things they'll do is consider the competitive landscape and make an assessment as to whether your startup is doing anything new, or at least...
For example, companies within the oil and gas industry, such as Exxon and Chevron, are competitors. Those same companies also fall under the primary sector since they both engage in the extraction of natural resources. However, Exxon or Chevron would not likely compete with companies involved in...
While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below. A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and prov...