Understanding your Competitors

Completing the Marketing Intelligence Jigsaw

Alice Page
Asia Pacific, Citigate DVL Smith, Incepta Marketing Intelligence, Hong Kong

Sally Lai
Asia Pacific, Citigate DVL Smith, Incepta Marketing Intelligence, Hong Kong

INTRODUCTION

When a consumer makes a decision, a variety of factors come into play. This includes things like product or service features, price, benefits, and brand. The decision will also be indirectly influenced by wider factors such as market trends, channels, competitor offerings and new products. As market researchers, we tend to focus on only some of this process, data we can capture using consumer research techniques. However, this ignores the fact that rarely are decisions made in isolation of these other factors and so our traditional model of market research is at best only a partial view of the picture, and at worst could be misleading. Therefore, researchers should understand, and integrate, a much wider understanding of an issue into our research and analysis.