In the battle for market share and domination over your competitors, the right information can be your best defence and most potent offensive weapon. Now that you know who your competitor is, with an intimate knowledge of what makes him tick and how he is placed in your market, the next step would be the battle for perception. This is where inspired marketing, clever information dissemination and a feel for the pulse of your market will come into play.
The questions that you would need to ask when dealing with perception is: How does my competitor position himself? Try to determine if the image your competitors are trying to project to the market is the same as yours. Are they trying to be upscale, mass-market, snobbish or accessible? Make the necessary adjustments to your image based on what you have learned.
It is also important to know what channels your competitors are using to project that image. Are they using direct mailers, media advertising, or billboards? The kind of homework you do, and your dedication in collating this kind of information is an important factor for the long-term success of your business. By having the right information you can then formulate an effective counter-strategy that will not only counteract your competitorsâ€™ marketing efforts but also make your own messages and image-building efforts more effective.
It may take a lot of work but you can always employ the help of professionals in sharing the load of setting up and operating your new company. Company formation and business solutions professionals have the necessary expertise to help in the task of taking care of the nitty-gritty of setting up a limited company or even handling certain aspects of business operations.