Gathering information from secondary sources, such as industry research firms, will provide an overview of the company's market positions and operating environment. Evaluating this data may provide insight for advertising objectives and identify problems to solve. Consider current events for the industry, how the industry or product benefits the consumer and identify key industry influencers. Existing reports will contain most of this information.
Find advantages the company has over the competition. Uncover where the company excels and what it does well. This should be an internal investigation using company records, current customer data and processes within the company.
List the most common reasons consumers stop using the company and its products. Find things the company needs to correct, like brand image or high prices. Like the strengths portion, this should be an internal investigation. Use interviews with company employees, current and former customer data and other company records.
Discover new research or trends in the company's industry. Find unique resources or methods the company may possess. This evaluates the external factors on the company and attempts to identify a special position or asset of the company.
Determine the strengths of the competition. Identify other industries or secondary markets that may serve as replacements for the company and its products. Determine ways the company might easily mitigate these threats.