Question

discuss the need to understand competitors as well as customers through competitor analysis for patagonia pullover?

Answer 1

ANSWER:

A good marketing strategy of a company considers both customers and the competitors. Satisfying the needs of the consumer helps in building profitable customer relationship and analysing it's competitor also helps in competitive advantage. Competitor is analysed through competitive marketing strategies. Analysing the competitor consists of how many competitors are there , what is there marketing stategies, what price they are charging, what are there policies, what is there objective, what is there customer base.

This analysis of a competitor can be done through SWOT analysis. Which means analysis strengths,weaknesses, opportunities and threats. This data must be collected in order to perform better and take the competitive advantage.

So, competitor analysis helps in understanding the competitor and the customers in order to survive in such a competitive environment.

This analysis to understand the competitor and the customers not only helps to the patagonia pullover but to every firm and industry.