Competitive Environment Analysis
The information in the competitive environment analysis forms the basis for successful naming. For long-term marketing communication which builds on a memorable name and a strong identity, the marketing-relevant influential factors in the company, in the competitive environment, and in the industry have to be known.
An exact look into the industry yields information about suppliers, customers, substitute products, new competitors and the current competitors, as well as about the strategy of the product names. An analysis of the strengths and weaknesses of the competitors and their respective products enables a judgment of their performance in the market. The competitive environment analysis delivers important information for our work. For only when when understand the competition can we develop ideas which stand out in the market.
Politics, Economy, Sociology, Technology
The P.E.S.T. analysis is a method for evaluating the environment of a company. It categories the environment into the factors politics, economy, sociology, and technology.