Years ago when I was first in business I started attending one of the biggest trade shows in my industry which was held at the Jacob Javits Center in New York. I was instantly overwhelmed with the number of booths and the vast assortment of products being sold to the trade. I thought I knew something about my competition but until I attended the show I really had no idea of who I was really up against.

 

In the past I had shopped locally, purchased design magazines and looked through catalogs to get inspiration but I really hadn't given my competition a good hard look. And honestly I didn't know all the brands who were my competition.

 

I needed to know what my competition was all about so I could fully develop my own style and make sure that my line was on track to be unique.

 

My sales rep in New York was Jack Morris and I considered him to be the best in the business. The advice Jack gave me was first of all to walk the show and pick up information from other booths - if they would give it to me. And his second tip was to stay in New York a few more days and visit a list of stores he gave me so I could see what brands they carried and what their stores were all about. 

 

This was all long before the day when everyone had a website, so now it is a little easier even though you still need to physically get out of your office or studio and shop. It was great advice then and still great advice now.

7 Ways to evaluate your competition:

1. Collect their literature and purchase their products for hard core evaluation. You need to know what their products look like, feel like, how they're made and how they market.

2. Study their websites and research them on the internet. Subscribe to their ezines (Newsletters) if they have one. And BTW if you don't have an ezine, you need to to!

3. What stores carry their products? Or who is their target market and customer base? Often you can collect a lot of information by checking out the competition's website - many will have a list of stores who sell their products.

4. What does their booth look like at the trade shows or fairs?  This is very telling in terms of how they market their products and how they get buyers to stop.

5. Who are their sales reps? 

6. Who are the owners of these companies and what is their background and history?

7. How long have they been in business and what direction are they taking in their growth or lack of growth?

8. What kind of story do their designs tell? Do they sell in collections?

9. What are the prices of similar items to what you are going to produce or that you are making now?

10. Side by side how does your product compare in these areas:

1. Design
2. Workmanship

3. Price

Once you go through the list above you will easily be able to compare your product line with that of the competition. When you evaluate your competition up close and personal you can better decide how you are going to be different and how to go about your designing, marketing, pricing, packaging and advertising.

 

 

For More information about this subject and much more about creating your Design 2 Market Success business we invite you to join our INNER CIRCLE which you can test drive for $1 or $7. To take a look at all the help for your creative business click here: Design2Market Success Inner Circle

© 2009 Jane Button International Design2Market Success

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Online creative product mentor Jane Button publishes "Design 2 Market News" weekly ezine packed full of with tips to help make you money from your Sewn or Knit Product, Design, Gift, or Craft Business. If you're ready to take off the training wheels and turn your creative passion into a profitable business, get your FREE tips now at www.Design2MarketSuccess.com

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Online craftpreneur Jane Button publishes "Craft A Business News" a bi-weekly ezine packed full of with tips to help make you money from your Sewn or Knit Product, Design, Gift, or Craft Business. If you're ready to take off the training wheels and turn your creative passion into a profitable business, get your FREE tips now at www.design2marketsuccess.com