• Identify CompetitorsIn the first step of the market is to identify the competitors. Though it is very simple step, but company tries to understand the segment of the Competitors & basis of it, they recognize the things.LikePepsiCo understand the Coca Colas Dasani in competitors of its Aquafina.
Analyzing Competitors• Once company identifies its primary competitors, the second stage is to identify its complete Marketing programme. It includes following things• Strategies• Objectives• Strengths• Weaknesses
.. Share of market Share of mind Share of heart
• Share of the market: How much share the competitors are holding in the market.• Share of the Mind: General customers who take the name first about competitorsQuestion should be like• Name the first company that comes to the mind in this industry• Share of the product: General Customers who take the name first for their choiceQuestion should be like this• Name the company from which you would prefer to buy the goodsCompany, which penetrates the mind as well, the heart of the Customer will take no more time cover the share of the market.