The Marketing Plan: How to Prepare and Implement It

By William M. Luther | Go to book overview

8 Competitive Analysis

To be effective in marketing, you need to be competitive with your product or service, promotion, distribution, customer service, technology—just about anything you can think of. Even mighty Microsoft is failing with their mobile phone software, which is considered by many to have a boring interface and sluggish response time. In this chapter we offer a series of worksheets that will allow you to compare your company to the competition along many parameters. You are asked to score yourself on a scale of 1 to 10 in each of the worksheets below against your three major competitors.

You will not have [hard data] to make many of these assessments, but the better you know your industry and your competition, the more useful this competitive analysis will be. Some of the data can be obtained through research on your part (see Chapter 17, The Research Plan), and for some, you will just [wing it.] Give it your best shot.

Where you find yourself weak, you need a plan to make yourself stronger. Where you excel, if it is considered a vital factor in the buying decision, these factors should be your basic thrust in your promotions.

-109-

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The Marketing Plan: How to Prepare and Implement It
Table of contents

Table of contents

  • Title Page iii
  • Contents ix
  • Acknowledgments xi
  • Introduction 1
  • 1 - The Planning Process 9
  • 2 - Marketing Management 21
  • 3 - Market Analysis 27
  • 4 - Customer Analysis 55
  • 5 - Brand Development 67
  • 6 - The Product/Service Plan 73
  • 7 - Calculating Your Marketing Communications Budget 101
  • 8 - Competitive Analysis 109
  • 9 - The Advertising Plan 117
  • 10 - The Sales Promotion Plan 139
  • 11 - The Public Relations Plan 153
  • 12 - The Sales Plan- Pricing 163
  • 13 - The Sales Plan- Future Sales 175
  • 14 - The Customer Service Plan 197
  • 15 - Maximizing High-Potential Accounts 203
  • 16 - The Internet Plan 237
  • 17 - The Research Plan 249
  • 18 - Pulling the Plan Together 257
  • Appendix A - Marketing Plan Basics 263
  • Appendix B - Everything You Need to Know about Working with An Advertising Agency 275
  • Index 285
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