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How to Make Money with Social Media: An Insider’s Guide on Using New and Emerging Media to Grow Your Business by Dr. Reshma Shah, Jamie Turner

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Chapter 15. How to Conduct a Competitive Assessment

WOULDN’T IT BE GREAT IF COKE HAD TO WORRY ABOUT ONLY PEPSI? OR IF HERTZ HAD TO WATCH OUT FOR ONLY AVIS? AND LIFE WOULD BE SIMPLE IF IBM WAS CONCERNED ONLY ABOUT APPLE. BUT THAT’S FAR FROM REALITY. IN MOST BUSINESSES, COMPETITION COMES NOT ONLY FROM YOUR DIRECT COMPETITORS, BUT ALSO FROM DIRECT, INDIRECT, INDUSTRY-SPECIFIC, AND GENERIC COMPETITORS.

As marketers develop their go-to-market strategies, they have to consider not only what their product or service has to offer, but also what their competitor’s products or services have to offer.

The same principle applies when you think about your approach to an integrated social media campaign. It’s important to start with a competitive assessment ...

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