Checklist on Investigating Competitors

Detail the following information about your competitors.

• You need to know about their products and services.
  
  
• You need to know how their business is structured.
  
  
• You need to know about their staff and the prices of their products and services.
  
  
• You need to know about their area of speciality and how successful their customer service is.
  
  
• You need to know if there are any vulnerable areas.
  
  
• You need to find out about their reputation in the marketplace and also assess their image in the marketplace.
  
  
• You need to find out about the quality of their products and services.
  
  
• You need to investigate whether there is any point of difference between what you supply and what they supply.
  
  
• You need to find out their reputation, as far as paying their suppliers, etc, is concerned. You need get a credit report on the company.
  
  
• You need to look at their market and sales activities and find out their promotion and advertising strategies.
  
  
• You need to find out if you have an edge and what competitive advantage your business has.

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