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Understand your competitors

Knowing who your competitors are, and what they are offering, can help you improve your products, services and marketing. It will enable you to set your prices competitively and help you to respond to rival marketing campaigns with your own initiatives.

You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses, and improve your own business performance. You can also assess any threats posed by both new entrants to your market and current competitors. This knowledge will help you to be realistic about how successful you can be.

This guide explains how to analyse who your competitors are, how to research what they're doing and how to act on the information you gain.

Subjects covered in this guide

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Home

 

Starting up

Sales and marketing

 

Understand your competitors

 

Current section

Introduction

 

Who are your competitors?

 

What you need to know about your competitors

 

Learning about your competitors

 

Getting to know your competitors

 

How to act on the competitor information you get