Beware of Invisible Competition

Articles, competition, marketing, segmentation, strategy
You might think it's pointless to identify future competitors when it's hard enough trying to forecast sales and uncover existing competitors' strategies. However, you need to take invisible competition into account when developing your firm's long-term strategies or plans, especially plans for global expansion. In fact, just thinking about new, future competition is worthwhile for the following reasons: It facilitates the long-term view. It forces you to look beyond the obvious and evaluate new international players; disparate companies joining in a potential alliance, joint venture, or merger. It helps you identify future business-building opportunities for your own company. This link between what people considered two very disparate companies spurred thinking about competition we cannot easily envision, or what is called "Invisible Competition” Competition isn't really invisible, of course. But we…
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