A competitor analysis for artists and corporations is an assessment of the strengths and weaknesses of current and potential competitors in the entertainment industry. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. However, it is argued that most firms do not conduct this type of analysis systematically enough. Instead, many entertainment industry entities operate on what is called “informal impressions, conjectures, and intuition gained through the titbits of information about competitors every manager continually receives.” As a result, traditional environmental scanning places many firms at risk of dangerous competitive blind spots due to a lack of robust competitor analysis.
By providing continuous information on your external competitive environment, Nimble Agency delivers an essential component to your corporate strategy. With this evaluation, you can establish what makes your product or service unique, and therefore what attributes you play up to attract your target market. Check out what we have done for other artists and corporations, read the insights we present on this topic and get in touch to plan a free consultancy session.