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Tracking the competition?

By wieczor8 ·
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Who thacks what the "others" are doing?, How do you track them and what information would be important to you?

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Tracking the competition?

by certify In reply to Tracking the competition?

Every company should know and track their competition. Knowing what your competition is doing, how they are doing it and what results their are obtaining is not just a blank to fill when completing your business plan. It should be an on going event.

Is your pricing in the ballpark? How much do they sell? How do they find customers? How and where do they advertise? Is it sucessful for them? Check your competition. Yes, call and ask or surf their websites.

Knowing your competition gives you insight to your customers. It also gives you a point of reference, new ideas, and can give you confirmation.( yes, your idea is good-theirs' stinks here, I do have what they are lacking,I am better here-they are better there- do I want to improve?)

Do everything from website review, to reviewing their pubiclly filed information (based on SIT codes), review their advertising. The more you know the more frequently you can avoid mistakes they have made and improve your ideas.

Any information on my competition i

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Tracking the competition?

by wieczor8 In reply to Tracking the competition?

The question was auto-closed by TechRepublic

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Tracking the competition?

by Chris Penn, CUOL In reply to Tracking the competition?

Bottom line: open source intelligence. You can develop one **** of an intel portfolio just on open, public sources. Set up an archiving program (a la WebZip) to spider your competitor's sites and search the content. Visit the IRS branch office and pick up the public display forms like the IRS 990 corporate tax form. Put it all together with press releases, and jigsaw puzzle it, figure out what's being said. Do this weekly if you can.

Enjoy,

C.S.Penn
http://www.cascap.org

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Tracking the competition?

by wieczor8 In reply to Tracking the competition?

The question was auto-closed by TechRepublic

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Tracking the competition?

by Claidhmore In reply to Tracking the competition?

I depends on business environment. If your competitor is not a publicly traded company it can make some information more difficult to come by. In this case, try networking in the community. Listen to what people are saying about you or your competitor. Get your employees involved in this as well. Local newspapers are a good source as well. If the company has private stock try buying some. This will enable you to track their financials a little easier.

If the company is publicly traded use the various stock sources and message boards. A couple of web sites in particular that can be helpful are:

http://www.sec.gov
http://www.companysleuth.com

Finally, with the number of companies putting up web sites, check your competitors web site on a frequent basis.

I hope some of this helps.

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Tracking the competition?

by wieczor8 In reply to Tracking the competition?

The question was auto-closed by TechRepublic

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Tracking the competition?

by mao_orellana In reply to Tracking the competition?

More important of the "others" are doing ? is know what is the "others" are NOT doing, for this rason the important information is in the relation betwen the "others" and the "other clients satisfactions".

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Tracking the competition?

by wieczor8 In reply to Tracking the competition?

The question was auto-closed by TechRepublic

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Tracking the competition?

by Gary Cooper In reply to Tracking the competition?

It's important to track the competition in your sector as a benchmarking exercise against the market leaders. However, discovering appropriate metrics is the difficult part. What KPIs do you plan to use when tracking and how can you work out what the competition are spending on IT per end-user compared to what your organisation is? There are various forums that can be joined in order to share such information. The big job is working out what you're doing within your organisation. Once the metrics are in place, then you can benchmark against the competition.

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Tracking the competition?

by wieczor8 In reply to Tracking the competition?

The question was auto-closed by TechRepublic

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