In a Word document you will provide a market analysis regarding the product or services your company provides. The report should include the following bolded headings: Company Information; Product Information; Market Information; Market Share; and Website Analysis.
- Company Information: An overview of your company and its competitors. Information regarding direct and indirect competition must be included, information about competitor headquarters, size of the workforce, any acquisitions or mergers, mission statement, slogan, and tagline.
- Product Information: Discuss products or services offered; details about the pricing of key products and services; and a discussion about the distribution channel, its affiliates, retailers and wholesalers.
- Market information: This section will describe the information you collect on the target audience. This is important because it can reveal opportunities for you to win customers from competitors. For the Marketing Strategy, review and summarize how your competitors are using social media channels and web pages. Pay close attention to pages where competitors are mentioned, identify and label social media channels, for example, LinkedIn targets professionals. In addition, document the brand messaging and the tone used for social media (this information can help you to refine your brand messaging).
- Market Share: This section of your paper will provide a competitive analysis and should discuss your share of the market and your competitor’s share of the market, and should be presented in percentages. What are your competitor’s strengths and weaknesses? Of greater importance, discuss ways you can take advantage of identified weaknesses. A consensus exists that businesses should place emphasis on their own share of the market and it is important to mention that a watchful eye on competitors market share could prove insightful.
Using SimilarWeb (Links to an external site.), perform a Website Analysis using the top five competitors identified in Part 1. You will evaluate website performance and summarize the results. The SimilarWeb application will produce charts and graphs based on the information you enter. You will need to interpret the data and provide a written summary of your findings.
Provide a brief summary of the following categories based on the 5 companies researched for the website performance:
- Competitive Landscape (Global ranking)
- Traffic & Engagement
- Marketing Channels
- Audience (geography, demographics and audience interests)
- Content and Ad Monetization
The summary reports will be included in Part 2 – Section 2: (Market Analysis and Marketing & Sales). Download and save the overview report to be added to the Appendix after completion of Part 3.
Section 5: Marketing and Sales Review Marketing and Sales (Links to an external site.). How will you drive traffic to your site? Who are your customers? (Age; Where do they live; etc.?) Education level? Income level? What’s the best channel to reach your customers? (Paid or Organic marketing). This information should be as detailed as possible.