Marketing Holistics

Competitive Analysis – an invaluable strategic document

A thorough study of competitors is an essential foundation to implement an effective marketing strategy. In our mature capital economy, every market  typically is fragmented and therefore extremely competitive. Close competitors seek to satisfy the same customers. Latent competitors may introduce new ways to satisfy potential customers. It is shortsighted to focus on consumers alone although customers must be the primary focus of a holistic marketing strategy. Considering the industry and the market provides a more comprehensive and valuable perspective. Understanding the dynamics of a parent company, if relevant, is important when gathering informaion for a competitive analysis.

Preparing a thorough competitive analysis is a daunting task. I have developed a TEMPLATE to serve as a starting point when gathering data for this strategic document. The final execution will probably be more granular.

You are welcome to download the TEMPLATE from my website: www.marketingholistics.com. It generally takes a fair amount of time to produce an effective competitive analysis which can then serve as a strategic document for a marketing plan.

April 8, 2009 - Posted by barbarareiner | holistic marketing | competitive analysis, competitive analysis template, holisitic marketing, marketing strategy