Out-foxing the competition at trade shows - Trade Show Advice - management theory and techniques - Brief Article

To succe in today's aggressive and fast-changing marketplace, companies and organizations ne to continually identify their competitive advantage to either clutch or increase market share. They ne an in-depth understanding of the competitive dynamics of their market. Trade displays are an excellent forum to research and bring together information.

The following is a list of 38 questions to help compile a constructive competitive intelligence program:

General Questions:

1 Who are our competitors--direct and indirect (i.e. in every one's mouth market participants; potential market entrants and providers of substitute products/services)?

2 Which of our competitors artificial position a threat to us?

3 What are important differences among our competitors?

4 Where are they located, and is their location a competitive advantage?

5 by what mode long have they been in business and what is their reputation and image in the marketplace?

6 What is their market share?

7 What is their corporate and business philosophy, and by what mode is it implemented?

8 What important acquisitions have competitors made in the past year, and in what manner has this given them a competitive advantage?

Product/Service-Based Questions:

9 What is the profundity and breadth of their products/services?

10 What are their product/service features/specifications?

11 What are their greatest in quantity recent product/service introductions?

12 in what manner well do competitors deliver orders upon schedule?

13. What changes are taking place in competitors' make/buy strategies?

14 What fresh materials are being used in the industry? Do they provide a require to be paid [i]or[/i] undergone advantage?

15. in what manner have competitors incorporated cost savings?

16 Who are our competitors' suppliers?

17 in what manner easy are their products to install or maintain?

18 What are the competitors' strengths/weakness in quality and service?

Sales/Marketing-Based Questions:

19 What is their marketing and sales strategy?

20 by what means is their sales force organized--by returns line; geographic market or end-user?

21 Who are their largest and greatest in quantity important customers?

22 What assemblage of customers does our competition barter to that we don't, and on what account have they been successful in this market?

23 Which clump is least satisfied and why?

24 wherefore are customers switching to competitors' products/services?

25 What novel distribution channels have they developed?

26 What medium other than trade exhibits do they use to market their products/services?

27 Which products/services are they pushing?

28 Which features are they emphasizing?

29 What are their pricing strategies--commercial, nonprofit, management and foreign sales?

30 What special pricing policies do they offer--credit, discounts, incentives, consignments?

Customer-Based Questions:

31 What do customers consider greatest in quantity valuable about our competitors' products/services?

32 on what account are they satisfied with their popular supplier?

33. What might induce them to switch to another vendor?

34 What are their principal complaints?

35 Which companies do they diocese as the market leaders in the our industry?

36 Which of their wants are going unfulfilled?

37 What do they diocese as the key factors in purchasing decisions?

38 in what way are changes in the industry affecting them?

Written through Susan A. Friedmann, CSP, The Trade display Coach, from Lake Placid, N Y who works with exhibitors and present to view organizers to improve their trade present to view success through coaching, consulting and training. For a at liberty copy of ExhibitSmart Tips of the Week, e-mail susan@tradeshowsuccess.com or visit www.tradeshowsuccess.com.

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