A company’s marketing organization
How can a company’s marketing organization identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? Provide an example.” 350 https://www.homeworkmarket.com/homework-answers?page=350
Review the Siemens AG case study. Note the importance of understanding the interrelationships amongst all the senior leaders at every location. Pay special attention to Figure 8.1 and Figure 8.2. Note how the corporate CIO should engage with each of the regional leaders. Why is this important? (Information Technology and Organizational Learning)
Sample Solution
A company`s marketing organization
Competitive research is the backbone of a strong marketing strategy. After all, if you can’t identify your competitors and their marketing tactics, you will struggle to differentiate yourself and your product from the crowd. Finding your competitors doesn’t have to be taxing or complicated. The first step to finding your competitor is to differentiate between your direct (companies or publishers who sell or market the same products as your business) and indirect (those that don’t sell the same products as you, but are in competition with your business digitally) competition. After you have identified your competitors, identify marketing opportunities so you can start outperforming them. for example, by looking at your competitor`s social media presence, you can evaluate where they are focusing their attention and efforts. Also, you can always go back to paid data, as this will provide insight into where your competition is placing their efforts and money. From there, you can craft marketing strategies to compete.
