The next thing you need to do is classify

For example, Google Trends lets you see search results for various terms. Maps are a simple way to find locally based opponents SocialMention, on the other hand, scans mentions of your brand on social media channels based on any search query. the competitors you find into one of four groups Direct competitors When you think of your competitors, these are the brands that first come to your mind. Brands in your industry or environment that market products and services that do the same job as yours. Indirect competitors Address the same customer needs as your business, but do it differently. Your target audience overlaps with theirs, but its not an exact match.

Substitute competitors These do not sell the same Romania Mobile Number List products but compete for consumer spending, for example pubs, cafes, restaurants, delicatessens and supermarkets compete for lunchtime trade on a high street. New entrants Competitors who have just entered the market offering the same products or services. With all this in mind, keep a wide lens and try to keep an open mind. Look at the competitive environment from as broad a perspective as possible. This way, you can not only better understand the context in which you operate, but also learn more.



Some of the best businesses take ideas that work well in other markets and copy them in their own space. Related Content Data Analysis and Marketing How to Make Better Marketing Decisions by Examining Data. How to Perform Competitor Analysis In the list below you can find steps on how to conduct competitor analysis . Set Goals First of all, decide what you want to get out of competitor analysis. Do you want to exploit your opponents weaknesses Are you looking for new market opportunities that your competitors are ignoring Looking to improve your marketing message Need a design overhaul.