Etini
Valued Contributor
Indirect competitors are part of the competitive landscape of a business. But how do you identify this direct competitors?
1) Understand the core utility that your business is offering: Identifying your indirect competitors starts with a clear understanding of the vital value your business offers to your target audience.
2) Understand the alternatives to the utility that you offer: This involves the business person examining if the customers have another way of fulfilling this utility without patronizing your kind of products. These could come in the form of other products or services.
Why Should You Know Your Indirect Competitors?
Understanding your indirect competitors helps you to tailor your marketing approach to deliver the balanced message to your target audience.
1) Understand the core utility that your business is offering: Identifying your indirect competitors starts with a clear understanding of the vital value your business offers to your target audience.
2) Understand the alternatives to the utility that you offer: This involves the business person examining if the customers have another way of fulfilling this utility without patronizing your kind of products. These could come in the form of other products or services.
Why Should You Know Your Indirect Competitors?
Understanding your indirect competitors helps you to tailor your marketing approach to deliver the balanced message to your target audience.