What Is Direct Versus Indirect Competition In Marketing 🤔🎬✅

Analyzing your competition is important for the growth of your company.
In the area of marketing, analyzing your competition is healthy and can help inspire you to adapt your business to better meet consumer needs.
An essential part of this is to understand both your direct and indirect competitors.
And this begins with knowing the difference between the two.
Let’s explore this topic together!!! 👍
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Chapters
0:00 Analyzing your competition
0:48 Direct competition
2:07 Indirect competition
4:01 How do you go about identifying your competitors?
5:47 You always have competitors whether those are direct or indirect.
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How did you do with this video’s challenge? 🤔📚📖 I would love to hear about that! Share in the comments section below your marketing thoughts, observations, or topic ideas, and let's solve it like a marketer!
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[@SolveItLikeAMarketer]

Please share in the comments section below your marketing thoughts, observations, or topic ideas. I would love to hear from you!!! 👍🎬😉

[@PiriyeDimaDede]

Thank you for this, it's very helpful!

[@SolveItLikeAMarketer]

You're very welcome!

[@misspetmalu501]

Good afternoon, I would like to ask what is the indirect competitor of bondpaper? Thank you! ☺️

[@SolveItLikeAMarketer]

Interesting question. I think it depends on the merchant carrying the bond paper. So each outlet would be in competition with the other. On another front, the producer of bond paper would be competition with other types of paper manufacturers. 👍

[@vasquezdeborahc.2579]

This is very helpful! How can identify the indirect competitor of businesses who offer a wide range of products like LAZADA, eBAY, AMAZON? Thank you!

[@SolveItLikeAMarketer]

Interesting question. With Amazon and eBay it is less about the products themselves and more about online shopping in general … how does one platform compare to the other.

[@diybrandingwithdkjonah]

Thanks for this . Just working on this

[@SolveItLikeAMarketer]

Great! Hope this is helpful. 👍

[@tehkhairiahidris2441]

this is better solution on my exams after viewing this video

[@SolveItLikeAMarketer]

Great to hear. 👍

[@vasquezdeborahc.2579]

Is it possible that a business doesn't have any indirect competitors?

[@SolveItLikeAMarketer]

There are VERY few cases. The company would have to have a complete monopoly on the market. Possibly this could be a Hydro company or water supplier.

[@majestinostario1341]

@@SolveItLikeAMarketer I humbly think it's impossible, cause a Hydro Company will face Indirect Competition (IC) from Solar Startups same from Water Suppliers Companies facing IC from Home Boring Water Startups!

[@rxbblt880]

@@majestinostario1341 cap

[@user-tb7zq8fh8t]

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