Marketplace Auditing

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How To Conduct Efficacious Marketplace Auditing For Your Brand.

One of the essential steps to building highly-competitive brand is to conduct smart marketplace auditing (competitor research).

It's required of every brand desiring to outsmart competition to examine what their competitors are doing well and what they are struggling with. This will provide a good basis for the brand to find an angle(s) they can leverage for growth and sales.

To conduct efficacious marketplace auditing:
*Ask yourself if customers could end up in a scenario where they are choosing between you and those competitors before understudying them.
*Review the competitor based on SWOT analysis (like the Gett's anti-Uber campaign)
*Identify their brand purposes, brand stories, marketing efforts, and examine their consistencies in all these and others.
*Analyse the differences and similarities the competitors have with your brand, etc.
As a Brand Manager, I have helped companies conduct marketplace auditing that delivered maximum results.

Clement Oladepo is an innovative Brand Manager to individuals and companies in different industries, and the CEO of Beau Ideal Communications, Abuja, Nigeria.
#BrandManager #MarketplaceAuditing #Abuja #BIC #ClementOladepo #AbujaCompanies
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