Competitive Intelligence For Dummies by James D. Underwood
Author:James D. Underwood
Language: eng
Format: epub
Publisher: Wiley
Published: 2013-07-01T00:00:00+00:00
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Keep an eye on indirect competitors, too
A direct competitor essentially sells the same thing you do; for example, Disneyland and Universal Studios compete directly against one another, because theyâre both in the theme park business. Indirect competitors sell something different that still competes with you in terms of where potential customers choose to spend their money. Anything that families might spend money on to have fun together competes indirectly with Disneyland and Universal Studios, including a family trip, a cruise, a beach resort, or even a home entertainment system.
Spotting the direct competition is easy. Spotting indirect competitors is more of a challenge, but is still important, especially during times of economic instability, when your loyal customers may feel compelled to look for alternatives.
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