hi!!!!
In marketing, when you enter into a market segment, there are various competitors already in that market segment in which you are going to work. My question is that to how much extent it is necessary to understand the psychology of your competitor??? and how it can affect the performance of your company???
waiting for replies...
regards....
Depends on how much you can get by reviewing the other site.....
Some are very plain a reveal nothing.....
You can usually see the way they address the potential customer and maybe improve on that...
Also consider the professionalism of the site in general...
As a newbie, still in uni I would say it is crucial to understand your competitors not only for segmentation but also in general. It’s all about keeping up with the each other and trying to be one step ahead of the game.
I agree with Dave. Small companies will benefit from it greatly in regards to growth
Having lots of competitors on business is like survival of the fittest. You should know their strongest points and weakest points too for it will help you to come-up with strategical business plan.
Having lots of competitors on business is like survival of the fittest. You should know their strongest points and weakest points too for it will help you to come-up with strategical business plan.
I agree with you, you should know the strongest and weakest points of your competitors. But how will you do that? Well, the best thing is to do that is to do an SEO campaign and try some free tools on the net to identify the actual page rank of your competitors. Google keyword tools and Alexa Ranking is a great help for this.
psychology??????
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