Competitor Monitoring in Cosmetics Industry Template

Competitor Monitoring in Cosmetics Industry in Priority Matrix

Track and analyze competitor activities and trends in the cosmetics industry to stay ahead.

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Proposed Tasks

Urgent & Important

• Task 1: Identify Key Competitors - due in 1 week
  ☐ Subtask1 Research and identify leading competitors in the cosmetics industry. ☐ Subtask2 Document their product range, pricing, and distribution channels.
• Task 2: Monitor Competitor Social Media - due in 2 weeks
  ☐ Subtask1 Follow and monitor the social media platforms of identified competitors. ☐ Subtask2 Analyze their engagement strategies and customer responses.
• Task 13: Analyze Competitor Pricing Strategies - due in 5 months
  ☐ Subtask1 Analyze the pricing strategies of competitors. ☐ Subtask2 Consider their pricing models, discount strategies, and bundling options.
• Task 19: Identify Competitor USPs - due in 8 months
  ☐ Subtask1 Identify the unique selling propositions (USPs) of competitors' products. ☐ Subtask2 Consider how these USPs appeal to their target market.

Important, Not Urgent

• Task 3: Analyze Competitor Marketing Strategies - due in 3 weeks
  ☐ Subtask1 Study the marketing strategies of competitors. ☐ Subtask2 Identify any unique or successful approaches.
• Task 4: Track New Product Releases - due in 1 month
  ☐ Subtask1 Keep an eye on new product launches by competitors. ☐ Subtask2 Analyze their features, pricing, and customer reception.
• Task 5: Monitor Competitor Sales and Promotions - due in 1 month
  ☐ Subtask1 Track sales and promotional activities of competitors. ☐ Subtask2 Consider the frequency, discounts, and special offers.
• Task 8: Conduct SWOT Analysis - due in 3 months
  ☐ Subtask1 Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis for each key competitor. ☐ Subtask2 Use this analysis to inform strategic decisions.
• Task 9: Review Customer Reviews and Feedback - due in 3 months
  ☐ Subtask1 Review customer reviews and feedback for competitors' products. ☐ Subtask2 Identify any common complaints or praises.
• Task 11: Monitor Industry Trends - due in 4 months
  ☐ Subtask1 Keep abreast of overall industry trends. ☐ Subtask2 Identify any shifts in customer preferences or technological advancements.
• Task 12: Review Competitor Website - due in 5 months
  ☐ Subtask1 Review and analyze competitors' websites. ☐ Subtask2 Take note of their design, user experience, and content strategy.
• Task 16: Analyze Competitor Ad Campaigns - due in 7 months
  ☐ Subtask1 Analyze recent advertising campaigns by competitors. ☐ Subtask2 Consider their messaging, channels used, and customer response.
• Task 18: Monitor Competitor Brand Image - due in 8 months
  ☐ Subtask1 Monitor the brand image and reputation of competitors. ☐ Subtask2 Consider public perception, media coverage, and social media sentiment.
• Task 20: Review Competitor's R&D Activities - due in 9 months
  ☐ Subtask1 Review any public information on competitors' research and development activities. ☐ Subtask2 Identify any upcoming products or innovations.

Urgent, Not Important

• Task 6: Attend Industry Events - due in 2 months
  ☐ Subtask1 Attend industry events, fairs, and expos. ☐ Subtask2 Network and gain insights into competitor activities and trends.
• Task 7: Regularly Update Competitor Profiles - due in 2 months
  ☐ Subtask1 Regularly update the profiles of identified competitors with new activities and trends. ☐ Subtask2 Share these updates with the relevant team members.
• Task 10: Assess Competitor SEO Strategies - due in 4 months
  ☐ Subtask1 Assess the SEO strategies of competitors. ☐ Subtask2 Identify keywords they are ranking for and their backlink strategies.
• Task 14: Evaluate Competitor Customer Service - due in 6 months
  ☐ Subtask1 Evaluate the customer service of competitors. ☐ Subtask2 Consider response times, resolution rates, and customer satisfaction levels.
• Task 15: Identify Competitor Partnerships - due in 6 months
  ☐ Subtask1 Identify any strategic partnerships competitors have formed. ☐ Subtask2 Analyze the benefits and impacts of these partnerships.

Not Urgent & Not Important

• Task 17: Study Competitor Supply Chain - due in 7 months
  ☐ Subtask1 Study the supply chain of competitors. ☐ Subtask2 Consider their suppliers, manufacturing processes, and distribution channels.