What Is Competitor Marketing Strategy?

Competitor marketing is a planning strategy used by companies to obtain a distinct competitive advantage over the competition in a particular market space. It is done by asking who, what and where the competition is in a market space.

Function

Very simply, research and analysis is carried out on the competitors. This consists of asking questions such as who are the competitors? What are they doing? Where are they? What do we anticipate them doing next?

Types

There are several different types of competitor strategies. These consist of SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), scenario planning, and pricing simulation. Each of these assess what the competitors are doing and anticipates what they might do.

Signficance

Competitive marketing strategy allows a company to take a good look at what its competitors are doing and compare that to the company's core competencies. This is an ongoing process that drives the decisions that companies make.

References

• Quick MBA: Competitive Advantage

Resources

• Wharton@Work: Thought Leaders II Marketing Against the Tide: Go Where Rivals Fear to Tread