Depending on how much time you want and can spend on the analysis, then determine the final number of largest competitors. We most often compare clients with 3–6 competing brands.
Once you have a clear idea of where you want to focus your attention, start by analyzing the company itself. Look at its history, background, and who is behind it. Look at what products or services it offers and what slogans it uses . Then, try to evaluate what emotions the brand is trying to evoke.
3. Compare products and services
Then go back to the products or services and shed some more light on them. Analyzing your competitors' products or services will help you gain an overview of current demand and make it easier for you to prepare an appropriate promotion strategy .
We recommend preparing a table for evaluating products or services. List your competitors' flagships belize phone number data in it and add information about everything important, such as:
price,
durability,
content,
target group,
number of functions,
design,
processing quality,
method of use,
warranty.
Customers typically purchase:
because they are afraid of losing the product or service experience,
because they want to indulge in that luxury
or because they simply need to use the goods or services.
So try to determine how your competitors' products or services help your target group of customers overcome their fears, meet their needs, or fulfill their desires.
Next, look at how competing companies present their products and services on the web, in what categories they are listed, how competitors talk about them, whether they use product videos, whether any famous faces have tried the product, etc. Customer reviews will be a crucial source of information for you, from which you can easily see the strengths and weaknesses of the products or services .
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