Marketer think that their competitor are from their own industry. BUt competitor can come from very different unknown window. read How.
In automobile industry, Rolls-Royce and Cadillac are competiting against each other and you can say against a whole lot auto mobile. But from customer point of view, these are goods and means just to fulfill a value in the customer mind. It is just not transportation but a desire to be different and look stylish, which is firing the sales. But when you concentrate on customer satisfaction you competitors stands up from different sort of categories. In this particular case Rolls-Royce can face competition from Rolex, jewellery merchant like D’dmas, a cool vacation on luxury cruise etc.
World is changing so fast and so the customer habits of buying. You never know from where you will have a real competition coming your way. Its time to wake up!
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