BUSINESS: Understanding Competitors Can Provide a Competitive Edge
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Understanding Competitors with Competitive Analysis
HMC Seswa has added Competitive Analysis as one of its products that will be offered to clients. The main purpose of this product is to examine the clientÂ’s competitors in the media and to leverage the clientÂ’s strengths, weaknesses, opportunities and threats to their advantage.
Â“This product will be a great tool in the overall marketing strategy and can be tailor made for each clientÂ’s needs,Â” says Mbali Msimango Practice Group Head HMC Seswa Corporate Communications.
The Job of Competitor Analysis
The competitor analysis will analyse a clientÂ’s competitors in their market or other markets that they would like to enter. Within the clientÂ’s industry sector or sectors, clients should be able to identify who their competitors are and carry out searches in different mediums, observe how their competitors market themselves through press releases and advertising. Also, visiting industry news sites or blogs will give clients a better insight into existing or emerging brands which could be potential threats.
HMC Seswa will work with the appropriate media monitoring company to obtain coverage of both client and competitors to compile a report. The report will include client and competitors share of voice in all media, their profiles in social media and types of coverage.
Msimango adds, Â“However, the report will go much further than a traditional media analysis of competitors and understanding competitors. It will include strategic recommendations, success measurements for future campaigns, topics for opinion pieces relating to industry issues and so forth.Â”
Business News Sector Tags: Business|