Friday, November 12, 2010

Developing Competitive Strategies

For Those In a Discussion Group

As an analogy,

I am new to a role. (Answering your question.)

I want to develop my knowledge in competitive strategy (competing with the others in the group to offer the best answer.)

To be as productive as possible as quickly as possible I would, as was suggested, do a quick industry analysis of my niche market. (Who is answering your question?)
Then, as was said, learn about the market. (Read up on what you do.)

You are in the [Business of].

What is a niche market in a [Your industry]?
A particular country, a particular industry, a particular service? These would be essentials to answering the question.

You can use the old stand-by SWOT test. (strengths weaknesses opportunities threats) but you should probably be more application specific.

Who are my customers?
What do they need?
Why are they buying from me?

Who are my competitors?
What do they supply?
Why are others buying from my competitors?

Who will be my customers?
What will they need?
Why should they buy from me?

What features do my customers need?
What features will my customers want?
Am I able to provide the product?

What are the prices?
What are my costs?

Time place utility. Can I get my product (or service) to where my customer needs it? Can I get my product (or service) to my customer when he wants it?

Form utility. Does my product meet the customers' needs or will it be necessary to modify my product or service.

Just to suggest a few.




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