Using the marketing research advantages and disadvantages to make your business more competitive is a great idea. You want to know what your competition is doing to stay ahead of them, and you want to be able to emulate them in order to win your competition over. You can find out which is the most common tactic they use and then take advantage of that information when you create your own marketing plan.
Now before you do that though, you need to understand what exactly a disadvantage is. A disadvantage is anything that benefits someone who is already doing something that you are not.
Disadvantages can be listed on several different levels, each with their own benefits and drawbacks. Here are a few examples of marketing research advantages and disadvantages:
Advantages: Certain disadvantages may mean your competition is looking out for you more than they look out for themselves. If they want to gain more customers in the process of your losing them, they’ll use this information to gain an edge. If your disadvantages are too many, you might want to consider turning your marketing plan into something more traditional.
Disadvantages: While marketing research is intended to help you learn about your competition, it isn’t really meant to help you win over them. You must be willing to take the short-term risks and learn about your competitors in order to be competitive.
Disadvantages can also mean they aren’t doing anything right. Maybe they have more money than you do, or maybe they don’t want to spend the time and money on you. They can even mean that they haven’t figured out what they’re doing wrong yet.
These disadvantages can be listed on several different levels as well. They may be listed by categories like:
There are disadvantages that you can never overcome, which may be why some people think that advertising is all about negatives. While you can only control what you focus on, you cannot control how people react to your message. There are also disadvantages that you can change and use.
While it is difficult to completely avoid all disadvantages, it is possible to increase your odds of survival through careful planning and solid marketing research. You want to give yourself the best chance of succeeding in your goal.
Disadvantages and advantages are based on the way your competitors are using the same elements to benefit themselves. If you find a way to create your own unique marketing plan that is based around the same advantages and disadvantages they are using, you can increase your chances of winning over your competition.
It is true that there are disadvantages and yes, that does mean that there are disadvantages. This doesn’t mean that you should try to imitate what they are doing though, because if you do that then you won’t be able to develop a strategy that is uniquely yours.
You will still need to have a strong marketing plan in order to achieve your business goals. If you know how to properly research your competition and how to incorporate the right advantages and disadvantages to your own plan, you can find out what is working and what isn’t and take full advantage of those advantages and disadvantages.