This week, we are getting you ready to prepare your first and only individual writing assignment. The main focus is on competition, so you may want to peruse the readings. Or, you may want to go back to your Principles of Marketing text to see what Kotler had to say about competitive analysis. Just maybe you have Michael Porter’s book, Competitive Analysis, in your library and can review his Five Forces Model, and some of the more recent thinking such as the Blue Ocean Strategy.
Here’s a question for you. Does a company always have to keep the competition in mind when when planning for the future? Can you think of any company that just forges full steam ahead without a thought as to what other companies are doing….and they are very successful? How do they do that?What’s their secret weapon? Or, is all marketing strategy developed based on what the competition is or isn’t doing?
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