in the operation of the website, testing the company’s operations and the company’s environment is an important part of the analysis of competitors dynamics, can quickly help marketers focus their efforts on key issues. As in SWOT analysis, each letter in SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are intrinsic factors, opportunities and threats are external factors.
strengths and weaknesses refer to internal factors:
experienced in marketing.
an innovative product or service.
place of business.
quality procedures and quality procedures.
other aspects that can add value to products and services.
lack marketing experience.
products or services.
place of business.
inferior products or services.
opportunities and threats refer to external factors:
increasingly emerging markets, such as the internet.
mergers, joint ventures, strategic alliances.
into the market segment to gain more profits.
emerging international markets.
competitors withdraw from the market.
competitors entering the local market.
competitors have developed innovative products or services.
competitors have better distribution channels.
government levies taxes on your products or services.
but these analyses have strong subjectivity, so there is no need to rely on it too much, everyone has different analysis conclusions. But there are some rules that have to be noticed:
1, competitor analysis, we must have an objective understanding of the company’s strengths and weaknesses.
2, competitor analysis must distinguish between the company’s current situation and prospects.
3, when analyzing competitors, must be comprehensive.
4, competitor analysis must be carefully compared with.
5, keep concise, avoid complexity and over analysis, should be hit the nail on the head.
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