We never say that enough, but before initializing marketing work, one of the fundamental things you must do is study the environment and universe of a company. Of course, it is useful to know more about the competitor's offers and their business models, but it is equally essential to study their brand positioning, selling arguments, how they structure their offer, which designs they choose and most of all, what are the best ideas to keep. This can be a very good source of inspiration.
- To create a brand, there is no better way than looking at the others and identifying those who stand out from the crowd and why.
- Just looking at the information is not useful enough. One must compile the information and share with the team to promote synthesis.
- Your competitors may have many of the good ideas you need, so why ignore them?
- “Above all, innovation is work rather than genius. It requires knowledge.” When you study your market universe and your competitors, you develop this knowledge, and you may find the best and most innovative ideas for your own project.
The Discipline of Innovation – Harvard Business Review. Read article.