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What Is a Competitive Analysis & Why Is it Important?

What Is a Competitive Analysis & Why Is it Important? | Loyalty Marketing & Rewards | Scoop.it
What exactly do you need to know about your competitors? And how do you perform a competitive analysis to find out? Read on for the what and why!
the first club™'s insight:

Now consumer loyalty can be swayed by price, ease of shopping experience, negative customer reviews, or just another brand being considered trendier than yours.

For brands to survive, they have to be aware of everything consumers think and feel, and how that impacts success in their industry and category. It’s a tall order – which is why competitive analysis is so important. #competitiveanalysis #consumerloyalty

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Shannon Murphy's curator insight, April 2, 2:04 AM

Now consumer loyalty can be swayed by price, ease of shopping experience, negative customer reviews, or just another brand being considered trendier than yours.

For brands to survive, they have to be aware of everything consumers think and feel, and how that impacts success in their industry and category. It’s a tall order – which is why competitive analysis is so important. #competitiveanalysis #consumerloyalty

Loyalty Marketing & Rewards
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