The promise and personality delivered in competitive advertising generally are the basis from which buyers form their opinions. For that reason, it is important to know who the competition is and what need and want states they satisfy in each market niche. A competitive analysis should also include facts about pricing, market share, distribution methods, promotional strategies, incentives to sales intermediaries, and more. For example, trade associations and trade magazines often sponsor research within their industries. This is particularly true in industries that are highly regulated or embroiled in change.
Some cautions are necessary regarding syndicated association or magazine surveys, though.
Often, prominent corporations offer a grant to fund the research. These corporations often have motives for sponsoring such research, which may impact the study s design. Trade magazines sponsor research to expand their involvement in an industry. This may cause the results to skew heavily toward the case for advertising in general, and for advertising in the sponsoring magazine, specifically. The overall goal of marketing research is to develop a marketing direction that will maximize the company's competitive position in the marketplace.