Last Updated 26 Jan 2021

3 Tips For Researching Your Rivals

Category Investment
Essay type Research
Words 127 (1 page)
Views 63

A: When it’s time to size up your opposition, consultant and author Becky Sheetz invokes the wisdom of ancient Chinese military strategist Sun Tzu: Know your enemy, and know yourself.

1. Cultivate spies. Hire your competition’s -- or at least invite them for lunch, dinner or cocktails. “It’s a great conversational way to find out stuff you may not otherwise be able to,” says Sheetz, author of .

2. Engage your prospects. When a declines your business, find out why -- and how your offer stacked up. “It’s more important to find out why you lost,” Sheetz says, “than why 
you won.”

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3. Behold the secret shopper. Intelligence gathering typically involves strolling through competitors’ aisles. No store? No problem. Hire consultants to make phone calls to your competitors, to learn how they operate. 

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3 Tips For Researching Your Rivals. (2018, Oct 22). Retrieved from https://phdessay.com/3-tips-for-researching-your-rivals/

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