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Major Marketing Control Tecuinques

The document outlines five major marketing control techniques, focusing on competitor analysis as a critical strategy. It emphasizes the importance of understanding market positioning, benchmarking prices, identifying pricing trends, adjusting pricing tactics, and assessing value propositions in relation to competitors. This analysis helps businesses optimize their pricing strategies and maintain competitiveness in the marketplace.

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killlove20233
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1 views1 page

Major Marketing Control Tecuinques

The document outlines five major marketing control techniques, focusing on competitor analysis as a critical strategy. It emphasizes the importance of understanding market positioning, benchmarking prices, identifying pricing trends, adjusting pricing tactics, and assessing value propositions in relation to competitors. This analysis helps businesses optimize their pricing strategies and maintain competitiveness in the marketplace.

Uploaded by

killlove20233
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The five major marketing control techniques are competitor analysis, customer analysis,

testing research, customer feedback and cost analysis.

Competitor analysis

Competitor analysis involves checking out the new products or services offered by your
competitors, examining their marketing strategies and determining whether they are
succeeding or failing with their businesses. It is a critical component of marketing strategy
that enables businesses to assess their position within the marketplace relative to their rivals.
From a pricing perspective, it serves as an essential tool for determining optimal pricing
strategies, ensuring competitiveness, and maximizing profitability. Here are some function of
Competitor analysis as a marketing control technique

 Understanding Market Positioning -by analyzing competitors’ pricing strategies


whether they are premium, mid-range, or budget-oriented businesses can identify
gaps in the market and opportunities for differentiation. This understanding helps
companies to position their products or services effectively and establish a price point
that resonates with their target audience.
 Benchmarking Prices - Companies can gather data on competitors’ pricing structures
for similar products or services. This information allows businesses to Set
Competitive Prices:
 Ensure that their pricing is aligned with market standards.
 Identify Pricing Trend -Recognize shifts in pricing strategies that may indicate
changing consumer preferences or economic conditions.
 Adjust Pricing Tactics -Quickly respond to competitors' price changes to maintain
market share.
 Assessing Value Proposition -Competitor analysis also involves evaluating the value
proposition offered by rivals. Understanding what competitors offer at different price
points helps businesses determine whether their pricing reflects the perceived value of
their own offerings.

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