Competitors are 'living entities'. Insight into what
your competitors were doing six-months ago doesn't mean a thing - they
are likely to be developing new strategies and tactics just like you.
If you are surprised by the way a competitor reacts then you need to improve
your homework next time you implement a new initiative - remember that
the better your initiative the more aggressive will be the response from
the competition - unless you have done something to minimise the threat
in your planning.
Businesses generally underestimate the likely effect of a competitor acquisition or tactical pricing within the market. Both eventualities should always be borne in mind during your planning phase. The majority of businesses always perceive their business to be better than the competition.
Competitors usually say the same thing as you to prospective clients. Often attempts to differentiate a company or product from the competition are based on factors that aren't very important to the end customer. If this is the case then a more realistic assessment should be made alongside a plan to develop brand equity (the perceived quality or value of the company/product/service brand). Call now for more help on 0870 903 9933.
Businesses generally underestimate the likely effect of a competitor acquisition or tactical pricing within the market. Both eventualities should always be borne in mind during your planning phase. The majority of businesses always perceive their business to be better than the competition.
Competitors usually say the same thing as you to prospective clients. Often attempts to differentiate a company or product from the competition are based on factors that aren't very important to the end customer. If this is the case then a more realistic assessment should be made alongside a plan to develop brand equity (the perceived quality or value of the company/product/service brand). Call now for more help on 0870 903 9933.
