Question

Topic: Strategy

Identifying And Understanding Your Target Market And Competitors

Posted by Anonymous on 2/9/2004 at 4:49 AM ET 125 Points
I am in the management consulting business. My focus is on Leadership development and culture change. In an effort to increase sales and market share I need to obtain more info on competitors and my target market. Getting info on competitors appear to be an arduous task in this kind of business. What is the best ( simplistic, without doing massive market research and low cost ) manner in which to obtain such information?
I must submit a plan to my MD by 11/02 and need to have some direction in this regard. Thanks
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RESPONSES

  • Posted by ReadCopy on 2/9/2004 at 5:53 AM Accepted
    The web! I do most of my competitive analysis on the web.
    I can can assume that you know who your competitors are, simply check out their web site for information (financial data, history, key personnel, new on business wins), using this data you can pick up most of the details you need to build a competitor analysis profile (key elements being who are they, what business are they in, what geographic reach, what customers, their strengths and weaknesses).

    Also take a look at here for help in information gathering: https://uk.biz.yahoo.com/sectors/

  • Posted by Blaine Wilkerson on 2/9/2004 at 5:58 AM Accepted
    I would recommend some "stealth" searching and inquires via the IMC (Institute of Management Consultants USA).

    You may or may not be aware of this organization, but they have an extensive search base and member forums etc.

    Here's a link to their search page. https://imcusa.org/searchconsult.acgi

    I looked at their membership requirements and could not find a price pre se, but they apparently require some ethics testing etc in order to become accepted. Regardless, you may be able to do enough research without becoming a member if it is not feasible for you to do so.

    I hope this helps!

    Good Luck!
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