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WHO ARE YOUR COMPETITORS?
“Oh, we don’t have any competitors. No one really
does what we do.”
I can’t count the number of times I’ve heard
otherwise smart executives give this answer. Nor
can I think of a company or situation where it’s
The really dangerous thing about that statement is
that it leads to ignorance, which can lead to being
blindsided. If you truly think you haven’t any
competition, you won’t watch the market. You won’t
see the disruption coming. And you won’t be able to
react to problems or capitalize on the opportunities
that competitive shifts can create.
When it comes to your competition, the answer isn’t
to put your head in the sand. It’s to actively and
regularly study that competition. And not just who
you think is the competition, but who your market
thinks is your competition.
So, how do you do that? How do you learn about
your competition and decide which part of that
knowledge you should (and shouldn’t) care about?
That’s what we tackle in this issue of Pragmatic
Marketer, thanks to the help of some great
contributors, a real-life case study and, as always,
a slew of tips and best practices you can put to