To have a successful business it is key that you have a sound understanding of your competitors

STar urges you to understand your competitors

Posted: 08/12/2011

To have a successful business it is key that you have a sound understanding of your competitors

STar wants to help you to look at what other businesses are doing in your marketplace and where you position yourself in relation to them, so you can have a clear understanding of the strengths that your business possesses!


Every market has competitors, they will be direct (selling the same product) or indirect (competing in the same market).


In order to comprehensively asses your competition you can carry out a competitive analysis. A good competitor analysis will have two primary objectives, the first is to gather information about important competitors and the second is to understand what strategies your competitors have in place to achieve their objectives.


Read the elves’ guide to carrying out a competitor analysis if you want to complete one, or get in touch if you want the elves to do it for you!

The main thing to bear in mind when benchmarking your competitors is how you are positioned in the market and what differentiates you from the rest. STar’s tips on determining your target market and defining your USP should have helped you to find this out!


Star will be handing over to the other elves next week, but first she will be helping you to write your marketing strategy tomorrow.


Have any questions for the elves? Please email us and we'll be sure that one of our elves answers them. They are waiting to help you...


Call us on 0845 075 5955 or drop us an email: hello@horizonworks-marketing.co.uk.