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Chapter 1. New Rules of Engagement > Competing in the New Marketplace

Competing in the New Marketplace

Your competition is not just another online store—nor is it just retail, nor just catalog. Today, it's every store, and tomorrow it will increase even more. The more you know about your competition, the more you'll know about how to acquire and retain customers.

Understanding your competition will help you position yourself in the marketplace. You'll need to know their financial positions, their customer value propositions, and how target customers view them. Are their suppliers reliable? What solutions do they offer the customer? How big is an online competitor? The Internet hides the size of businesses, unlike a physical retail store. It is difficult to know whether a given company is a large enterprise or a home-based company.


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