As one globalizes, it's even more important to have good competitive analyses. Whether your show focuses on the domestic or international front, knowing how your competitors operate and what they plan to do next can be vital to your event's strength and survival. He and his team will spend upwards of four months evaluating existing events in terms of their size, attendees, exhibitors they attract and how well they appear to meet market expectations. Through its competitive analysis process, ICIA will determine what its target markets already receive and what those groups might welcome as a newcomer's competitive advantage. The only way we'll accomplish that is by knowing what they're already getting and by learning how they can be better served.
Competitive analysis is nothing new.
Everyone tries to have some feel for who's out there, how they're getting business and how their efforts compare. But thorough, effective and results-driven intelligence gathering and analysis happens all too rarely. A competitive analysis will deliver those answers. Moreover, the results can help you evaluate pending acquisitions and new show launches, grow your show, identify areas needing improvement, target new market segments, and attract new exhibitors and attendees. Competitive analysis is important because it shows you how to get the best return on your investment.