Tags |
|
|
Links |
|
|
Add You - Why You Should Track Your Competition
Medical assistant is an unlicensed multi-skilled health professional who offers administrative, clerical and technical support to the physician. Medical assistant provides services for front office, back office and other clinical laboratory areas. Medical assisting is a versatile career for men and women.Medical assistant provides services in the offices
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track
I didn’t realize how bad service had become until recently when I tried to get a brand new dryer repaired under warranty.I did everything right. In fact, I didn’t even press to get an earlier appointment.The repair truck pulled up, and the driver just sat there for about ten minutes before coming to the door. When he arrived, he mumbled so badly th
This is important for a number of reasons – one (the obvious one) they take possible revenue and secondly they often provide innovations within your marketplace, they expand opportunities and they influence your customers. By doing this competitors constantly force your organization to develop strategies and satisfy customers.
Who are your competitors?
Identifying your competitors can be more complicated than you initially think and needs to be tackled in a number of ways. By understanding how your customers make their buying decisions, your competitors are often exposed, once you know their there you’ll need to asses their capabilities and their place in the market. Once you’ve identified them, you’ll probably want to nominate someone in your organization to gather information and track their activities.
What is the future?
It’s not just your existing competition that you’ll need to keep your eye on – you’ll also need to keep an eye out future competitors. Tracking these can be arduous – where are they – how do you find them? Future competition can come from a number of places:
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track
Ten Questions For Entrepreneurs To Ask Themselves1.Do I have the persistence and patience necessary to be a business owner?
It would be nice if once you wrote your business plan all you needed to do would be to execute flawlessly and everything would fall into place. Maybe it happens to a few businesses but usually in some part of the plan you ge
Who are your competitors?
Identifying your competitors can be more complicated than you initially think and needs to be tackled in a number of ways. By understanding how your customers make their buying decisions, your competitors are often exposed, once you know their there you’ll need to asses their capabilities and their place in the market. Once you’ve identified them, you’ll probably want to nominate someone in your organization to gather information and track their activities.
What is the future?
It’s not just your existing competition that you’ll need to keep your eye on – you’ll also need to keep an eye out future competitors. Tracking these can be arduous – where are they – how do you find them? Future competition can come from a number of places:
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track
We all know the importance of training and developing our staff. It keeps team members motivated, generating increased productivity. They eagerly use their skills to the benefit of the business. So why is it that we continue to take short-cuts with training?There are a couple of reasons. First, some fear training their employees. They don’t want to spend
What is the future?
It’s not just your existing competition that you’ll need to keep your eye on – you’ll also need to keep an eye out future competitors. Tracking these can be arduous – where are they – how do you find them? Future competition can come from a number of places:
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track
I AM AN ENTREPRENEUR! It sounds nice doesn’t it? However, the title of “entrepreneur” means nothing if you do not attach any significance to the word. We all see entrepreneurs on television (Donald Trump, Bill Gates, Oprah Winfrey, etc.), yet we never really grasp the concept of what being an entrepreneur means.Achieving the success of those entreprene
What is the future?
It’s not just your existing competition that you’ll need to keep your eye on – you’ll also need to keep an eye out future competitors. Tracking these can be arduous – where are they – how do you find them? Future competition can come from a number of places:
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track
As the market changes franchising companies and their outlets must also change with the flow of consumer dollars and the changes in consumer buying perception. Consider if you will the height of popularity of the South Beach and Atkins Diet? This of course was the time when Schlotsky's Deli filed bankruptcy and it was the start of the fall of Krispy Kremes, as
• Market Expansion – Existing companies expanding into your market area
• Product Expansion – Existing businesses that expand their poduct offering
• Business Change- Changes to existing enterprises (funding, distribution etc) could make a small competitor a major competitor
What should you track?
One of the first things that you should consider tracking is the capabilities of your competitors for example possible capabilities include –their customer base, marketing and distribution activities.
The second element that you should track is the organizations strategy. For example – How do they price their products, what markets are they targeting, how are their product(s) developing?
Understanding your competitors targets regarding market share, revenue targets etc will also be beneficial.
How should you gather information
Luckily these days information is widely available on business activity. Places where you can gather information includes, Trade Shows, Stock Market information, Suppliers, Corporate collateral (e.g. website). Make sure that you business has a central system to store this information and that it is appropriately managed and co-ordinated.
Now your tracking your competition, how you act on the information may have multiple facets – it depends largely on your organizations strategy and the market place you want to operate in. Tracking your competition however will provide the right steer in developing your organization strategy and targets.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.addyou.info/article/22691/addyou-Why-You-Should-Track-Your-Competition.html">Why You Should Track Your Competition</a>
BB link (for phorums):
[url=http://www.addyou.info/article/22691/addyou-Why-You-Should-Track-Your-Competition.html]Why You Should Track Your Competition[/url]
Related Articles:
Are Hidden Beliefs Creating a Lackluster Career?
Business Process Consulting – The Five Principles of Keeping a Strategic Focus
Bookmark it:
|