Join Mosa Ntwampe, Group Head: Marketing & Corporate Communications at Sakhumnotho Group Holdings, as he unpacks how to create a brand identity. Watch his bite on Conducting A Competitive Analysis, and then answer the below questions:
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Question 1 of 8
List your competitors
Categorize the companies you identify into direct and indirect competitors.
Direct competitors provide similar products or services to a target market similar to yours. Indirect competitors provide different products or services (though ones that land in the same category as yours) to a target market similar to yours.
Question 2 of 8
Identify their target markets
To determine your competitors' target markets, try the following:
Study their mission statement. Analyze their voice and tone. Pay attention to their social media engagement (how do they engage).
Question 3 of 8
Unpack their 4 P's
Competitive market analysis requires you to analyze your competitors' four P's of marketing: product, price, place, and promotion.
Question 4 of 8
Make note of their most popular content
The goal is to identify which content types get the most traffic or engagement.
Question 5 of 8
Conduct a final SWOT analysis: What are your Strengths (S) - look internally at your company.
Question 6 of 8
Conduct a final SWOT analysis: What are your weaknesses (W) - look internally at your company
Question 7 of 8
Conduct a final SWOT analysis: What are your Opportunities (O) - look externally at the industry and market.
Question 8 of 8
Conduct a final SWOT analysis: What are your threats (T) - look externally to the industry and market.