When a business positions its brand in the customer’s mind it is positioning that brand against other brands. It is critical to understand that we most consider the strength, weaknesses, opportunities and threats of each competitive organization along with the industry structure itself.
At minimum you want to collect the following information
- Key business objectives, goals and strategies.
- Sales, Sales growth, profitability, market share, and other key financial measures.
- brand equity
- Product and service offering
- Pricing and distribution
- Major customers
- Corporate culture
- Organization charts
- Sales organization and compensation
- Share of voice/marketing budget/ advertising spend
Sources of competitive information
Next let’s look the components that go into brand design.
Designing the brand