WHY ARE OUR COMPETiTORS USEFUL FOR OUR OWN BRAND?

Increasing the success of your company get benefit only from your information may not be enough in the period of marketing competition.    You should be aware of the campaigns and projects carried out by your competitors.

For measuring the success of project implementation you should have pre-determined targets and statistics however it doesn't mean that if you have related statistic you will be always successful in a competitive environment. Success standards should meet the target of the company as well as market demands. The best way of closely monitoring of market is to follow up with other companies like your own company. If you follow the performance of your competitors firmly it is a good way for seeing the desire and needs of people that you want to catch via advertisement. The target group of two products or services would be similarly close fields.

If you generated a brand it is advisable to create effective web-site as well and in this case, searching for websites and sales of your competitors will be a good experience for you. Hereby, after gathering necessary information it will not be difficult to make your site while using other users' experiences.

It has been requested to enterprises’ students entering the marketing e-mail of the closest opponents in England.  While students open e-mail boxes and see the name of competitors it does not attractive for them initially but after for a while, it has encouraged them to be more creative.

Due to effective competitor analysis, four questions should be asked:

What kind of area do you live in?

You should consider a brand’s field along with similar fields that could be pleased by your customer, e.g. if existed a company organizes concert and music program then theater also should be taken into consideration as a rival. 

Who are your competitors?

In this step, you have to choose four or five closest brands to your company as a competitor while being objective to yourself.

Who are your customers?

Customer criteria should be chosen due to age, educational level, and many further elements. While answering this question it should be considered both users who use your products and your competitors’ products.

What are the criteria for success?

The measures of success could be the raising of brand popularity or growth of sales. Having a predetermined target will make your strategic planning easier as well as it will clarify gained information from competitors.

WHY ARE OUR COMPETiTORS USEFUL FOR OUR OWN BRAND?