Strong effort in this contribution integrating strategies and tactics used for known competitors recognized as "rivals". As stated,the marketing organization can then create and carry out an efficient marketing strategy in response to the new competition once the competitor has been recognized.The challenge with newly emerging digital competitors is they are not known and hence not recognized as rivals.Monitoring and utilizing things like SEO (Search Engine Optimization), keywords via blogs, and direct consumer opinions (Reddit, forums, blog boards, surveys, and online marketing companies) help to identify those competitors in the same or adjacent markets as you. Indirect and newly emerging competitors might be less visible or have a wide range of offerings. They sell different products or services but aim to serve a similar purpose and compete for the same customer as you

Limiting your competitive research to local or national social media domains will not identify those unknown or newly digital players emerging that are going after your revenue and market share from anywhere through internet access. These are called indirect replacements or phantom competitors

For instance, how would you identify the businesses that sell a product or service that is both different in the category and type of yours, but one which your customers could choose to spend their money on instead? For instance, McDonald's and Stouffer's frozen meals. What say you?

what's your opinion?