You must know your competition in and out. Keep your friends close, but keep your competitors closer. You need to know all the things that you learned about your customers except fill in the blank for each competitor on all of those above items. Learn how you are the same/ different. Learn the similarities/differences about each product and service you offer. Learn how they sell or promote their products /services.
Pricing _ I once said in my Marketing Plan Breakthrough S6PEC that, "Price is the key determinants of your profits". I stand firm to keep it that way. In your marketing plan, you will address pricing plan for your distributors, customers, multiple segments (some business charge differently _ price discrimination) and cost price i.e. your raw materials and things like that. Not many address price correctly and bear in my mind that we need to standby few pricing plan to respond to the market. Take for example during festive season, if everyone is lowering price and slashed their price or even ignited a price war, what do you do about that? Follow suit or wait? If you want to follow, how far? If you want to wait, how long? You capture all this in pricing plan.