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Viaa conductinga environmentala scanning,a aa company'sa marketinga departmenta cana identifya
newlya emerginga competitorsa ina timea toa plana anda executea ana effectivea marketa strategya ina
response.a Environmentala scanninga allowsa organizationsa toa acquirea informationa happeninga
outsidea ofa thea organizationa anda identifya trends.a Therea area fivea environmentala trendsa thata aa
companya cana monitora witha competitivea sourcesa beinga onea ofa thosea trends.a Competitiona
refersa toa differenta companiesa whoa producea anda sella aa producta ora servicea thata meetsa thea needsa
ofa aa specifica market.a Therea area severala differenta formsa ofa competition,a alla ofa whicha area
importanta anda shoulda bea considereda whena aa companya createsa itsa marketinga strategy.a
Barriersa toa entry,a powera ofa buyersa anda sellers,a anda existinga competitorsa anda substitutesa alla
musta bea evaluated.a Onea examplea isa thea smartphonea industry.a Therea area manufacturersa alla
overa thea worlda whoa producea smartphones,a witha Applea anda Samsunga reigninga ata thea topa ofa
thea list.a Thesea twoa companiesa area constantlya cominga outa witha newa smartphonesa thata touta thea
latesta anda greatesta features.a Ina ordera toa havea ana edgea ina thisa market,a thea twoa companiesa needa
toa monitora theira competition.a Theya needa toa seea whata onea anothera isa producinga anda offering,a
ina additiona toa keepinga ana eyea ona anya newa competitorsa whoa wanta toa entera thisa marketa witha aa
producta evena morea appealinga toa thea consumersa ina thisa market.a Aa company'sa marketinga
organizationa cana ensurea thata ita isa ablea toa identifya newlya emerginga competitorsa ina timea toa
plana anda executea ana effectivea marketinga strategya ina responsea toa competitorsa isa bya doinga
marketa research.a Looka ata thea marketa fora youra producta anda evaluatea whicha othera companiesa
area sellinga aa producta thata coulda competea witha yours.a Youa coulda talka witha youra salesa teama toa
finda outa whicha competitorsa doa theya seea comea upa oftena ina theira salesa process.a Youa cana checka
ona sociala mediaa becausea ina thisa daya anda agea aa lota ofa customersa looka toa sociala mediaa fora
referencesa ora productsa theya area seeking.a Youa cana investigatea thea conversationsa youra
customersa area havinga ona ona websitesa toa identifya youra competitors.a Fora example,a whena aa
customera leavea aa reviewa ona youra producta ita cana bea eithera negativea feedbacka ora positivea
feedback.a Thata isa aa conversationa youa coulda paya attentiona toa becausea sometimesa ina aa
negativea feedbacka theya maya comparea youra producta toa anothera producta thata theya maya believea
isa bettera anda thata cana helpa youa identifya competitorsa asa well.a Sociala mediaa isa sucha aa botha
positivea anda negativea impacta ona companies.a Ia doa agreea thata ita cana helpa aa companya figurea outa
whoa theira competitorsa area anda toa seea whata theya area upa against.a Commercialsa nowa seema toa
showa companiesa takinga jabsa ata onea anothera morea thana theya havea ina thea past.a Applea anda
Samsunga area onea ofa thea mosta competinga companiesa anda ita hasa beena thisa waya fora quitea aa
whilea now.a
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