Target Market and Competitive Analysis
Project scope
Categories
Market research Marketing strategySkills
digital marketing competitive analysis marketing strategy researchIt’s important for us to have a better understanding of our customers, our competitors, and how our target audience perceives our brand and competitors. We want to develop clarity on our competitive advantages and optimize our marketing communication strategy.
This project will involve:
- A customer analysis, including our current customers and potential new target customers.
- A brand and competitor analysis, including identifying our current and future competitors and their market share.
- Building a competition portfolio of our competitors, their features, services, price, and communication strategy.
- Conducting empirical interviews and/or questionnaires for feedback on our brand compared to competitors.
Questions to answer:
- What do you see as our biggest weaknesses, relative to our competitors?
- What are our biggest strengths?
- Is there anything you would change about our marketing or branding to better differentiate ourselves from our competitors?
- How do our customers view our brand? How is this different from how we position the brand?
- How can we better leverage Brian Gluckstein as a personality, design expert and brand ambassador?
Review consumer-facing communications from our brand and our key competitors including:
- Websites
- Social media
- Photography
- Written communication (tone and subject matter)
We hope to gain a comprehensive understanding of the competitors in our space and how we can differentiate.
About the company
The GlucksteinHome product collection was inspired by interior designer Brian Gluckstein’s trademark sophistication and effortless style and his desire to bring that aesthetic to a wider public. Carried exclusively at Canada’s iconic Hudson’s Bay department store, we offer a full assortment of home furnishings including bedding, bath, tabletop, furniture, decor, patio and holiday. GlucksteinHome is a leading national home brand focused on timeless essentials for modern living.