Tracking Market Trends and Competitor Actions Template

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Regularly reviewing market trends and competitor actions is crucial for staying competitive in the chemical manufacturing industry. This template offers a structured approach to tracking and analyzing market indicators, competitor products, pricing strategies, and marketing activities.

Utilize this template to ensure your sales strategies are informed by the latest market insights and competitor actions, enabling you to provide the most accurate and effective solutions to your clients.

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Tracking Market Trends and Competitor Actions for Priority Matrix

Tracking Market Trends and Competitor Actions in Priority Matrix

Stay ahead in the chemical manufacturing industry by tracking market trends and competitor actions.

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Proposed Tasks

Critical & Immediate

  • Task 1: Set Up Market Research Framework
    ☐ Identify key market indicators ☐ Define research methods ☐ Establish a consistent schedule for research
  • Task 2: Identify Major Competitors
    ☐ Define criteria for competitor identification ☐ List down potential competitors
  • Task 9: Update Product Portfolio
    ☐ Review product portfolio ☐ Identify areas for improvement

Critical & Long-term

  • Task 10: Update Pricing Strategy
    ☐ Review pricing strategy ☐ Identify areas for improvement
  • Task 3: Analyze Competitor Products
    ☐ Identify competitor products ☐ Analyze product features and benefits
  • Task 4: Analyze Competitor Pricing
    ☐ Identify competitor pricing strategies ☐ Analyze impact on market share

Non-Critical & Immediate

  • Task 5: Monitor Competitor Marketing Activities
    ☐ Identify marketing channels used by competitors ☐ Analyze marketing messages and offers
  • Task 6: Monitor Market Trends
    ☐ Identify key market trends ☐ Analyze impact on sales

Non-Critical & Long-term

  • Task 7: Conduct Customer Surveys
    ☐ Design survey ☐ Collect customer feedback ☐ Analyze survey results
  • Task 8: Analyze Sales Data
    ☐ Collect sales data ☐ Analyze sales trends