Unless you have a monopoly, you face competition. So, what do your competitors charge for their products and services so you can compare their value proposition to yours?
In business-to-business marketing, you probably won’t find your competitors’ price list on their websites. Even if they sell software or cloud solutions and do advertise their pricing, it’s often only a baseline: pricing for basic products or services without any customization or significant volume – and so they do not advertise their true pricing following bundling and negotiation.
If you’d like to find out how your competitors really price out their products and services, as well as insights about their selling process, B2B mystery shopping is something to consider. This form of competitive intelligence takes its name from a consumer marketing term as “shopping” doesn’t quite capture the path to purchase or buying decision.… Continue Reading >>
I was recently asked what book recommendations I would make for fellow entrepreneurs. I started Innovaxis Marketing Consulting business six years ago and the most influential book I’ve read since then is Blue Ocean Strategy. In it, co-authors W. Chan Kim and Renée Mauborgne identify how and why some businesses transform their industry, such as how Yellow Tail transformed the wine industry. They also identify a formula for how these strategies are repeatable—the single largest piece missing from other business books, from my experience.
Here at Innovaxis, our clients utilize our market research, competitive intelligence and product management services in order to apply Blue Ocean Strategy into product roadmap, marketing feasibility and product development efforts.
Additionally, I really like the following books:
- How to Become a Rainmaker: The Rules for Getting and Keeping Customers and Clients by Jeffrey Fox
- How to Become a Marketing Superstar: Unexpected Rules That Ring the Cash Register also by Jeffrey Fox
- The Tipping Point by Malcolm Gladwell
- From Good to Great by Jim Collins
- Pursuit of Wow by Tom Peters
Need to find out how much a competitor and/or their channel is charging for their products and services? Want to gauge another company’s responsiveness and customer service? Need to do all of the above without them knowing it’s you? Then B2B mystery shopping may be what you seek.
- Document imaging software
- Office technology service contracts
- Video conferencing services
- Hazardous-duty lighting
- Residential construction
- Security systems
- Engineered valves
- Powder actuated tools
- Construction fasteners
- Circuit breakers
- Conduit and wire
- Printer cartridges
- Specialty paper