One of the most common pitfalls for business owners is to make marketing plans without any competitor information. This is akin to devising a battle strategy without knowing who your enemy is! An effective marketing plan is based on information. The better the information, the more effective the plan. Analyse your competitors’ strengths and weakness. Their strengths are the … [Read more...]
Competitor One-upmanship: Resource Management
Now that you’ve done research and devised an impregnable battle plan the final step would be to “amass your forces”, so to speak. This is where your available resources and how you manage them will come into play. At this stage, it will be important to determine how your competitors are using and managing their resources . But this is not a battle to overwhelm a competitor wi … [Read more...]
Competitor One-upmanship: Perception is Key
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 … [Read more...]
Competitor one-upmanship: Know your Enemy
Business is a chess game. As you plot your moves, you also need to anticipate your opponent’s plans, and block them — knowing full well that he is doing the same thing. Sun Tzu said it best: “If you know your enemy and know yourself, you need not fear the result of a hundred battles.” This kind of strategic thinking lets you stay two steps ahead of competition. The first questi … [Read more...]