Analysis of competitors: preparation, stages and possible methods of work. Competitive analysis: what, how and for whom? What is competitive analysis? There is a lot of information, but in short and about the main thing, the answer lies on the surface: competitive analysis is a whole system of measures for business development that takes into account the strengths and weaknesses of not only your company, but also those of your competitors. Here it is important to understand that you can solve specific, immediate problems, or work out a strategy for years, correlate the main business plan of the enterprise with it and take into account all points of development of competing companies in the modern market. Who needs competitor analysis? This question is perhaps sometimes even a little unnecessary.
Any business is interested in sales, increasing customer demand and loyalty. And competitive analysis is not only about comparing the pricing policies of companies in the modern market, it is about working out actions to interact with competitors and using a system of measures, how to get around them in many other important points in the conditions of the real sales market. Let’s try Dominican Republic WhatsApp Number List figure out how to analyze competitors and not get lost in this set of measures to develop your business. Why do you need competitor analysis? In fact, we can highlight several points about what the purpose of competitor analysis is: Develop or clarify the company’s advertising plan, work out a marketing strategy for the development and promotion of a business, product or service; Working with pricing. Analysis of competitors' prices.
helps to understand what the optimal cost of a given product is, how it is formed in the modern market, and compare the pricing policies of the main business competitors; Studying and prioritizing the quality of the product or service provided. Where are they, the main strengths of your product for the client? Forecasting. Of course, another important point in this strategy. And here the forecast of the sales themselves, and, in principle, the market as a whole, its main vector of development, is important; Positioning. You always need to clearly know your position on the market, what niche the company occupies, with whom it competes and who can really be surpassed - and the answers to these questions will be found in the process of analyzing competitors. Specifics . Let's say you have a well-functioning business, a product or service is selling well among existing customers, but there are some indicators that are falling or are not at a high level, for example, the customer retention rate.