Market Trends & Competitors' Strategies Tracking Template

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Regularly reviewing market trends and competitors' strategies is crucial for making informed decisions in the competitive online sales industry. This template provides a structured approach to identifying key competitors, analyzing their strategies, and incorporating market trends into your own strategies.

By following this template, you can effectively monitor market and competitor changes, update your strategies, and ensure your team is trained and aligned with the latest industry developments.

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Market Trends & Competitors' Strategies Tracking for Priority Matrix

Market Trends & Competitors' Strategies Tracking in Priority Matrix

Stay ahead in the online sales industry by tracking market trends and competitors' strategies.

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Proposed Tasks

High Impact, Immediate Action

  • Identify Market Trends due in 1 day
    ☐ Research current industry trends ☐ Identify potential future trends
  • Identify Key Competitors due in 1 week
    ☐ Research industry ☐ List down key competitors ☐ Analyze their market share
  • Analyze Competitors' Strategies due in 2 weeks
    ☐ Study competitors' sales strategies ☐ Analyze their marketing tactics ☐ Understand their customer engagement practices

High Impact, Strategic Planning

  • Incorporate Trends into Strategy due in 3 weeks
    ☐ Brainstorm how to leverage trends ☐ Formulate new strategies based on trends
  • Implement New Strategies due in 1 month
    ☐ Train team on new strategies ☐ Monitor execution of new strategies
  • Update Strategies due in 1 month
    ☐ Update strategies based on market and competitor analysis ☐ Train team on updated strategies

Low Impact, Immediate Action

  • Monitor Market Changes due in 1 week
    ☐ Regularly check for new market trends ☐ Adjust strategies as necessary
  • Monitor Competitor Changes due in 1 week
    ☐ Regularly check for changes in competitors' strategies ☐ Adjust own strategies as necessary
  • Monitor Strategy Performance due in 2 weeks
    ☐ Track performance of new strategies ☐ Make adjustments as necessary

Low Impact, Strategic Planning

  • Report Findings due in 1 day
    ☐ Prepare regular reports on market and competitor analysis ☐ Present findings to team