Competition Analysis and Competitor Assessment for Competitive Advantage
Competitors are not just those who do the same thing as you, they are anyone who distracts customers who SHOULD be yours.Companies need to know about their competitors:
- Who the competitors are
- What the competitors’ objectives are
- What their strategies are
- What their strengths and weaknesses are
- What their reaction patterns are
Understanding competitive factors is vital to planning for your business. You need to know your competition as well as you know yourself: So you can...
- Find a Unique selling proposition to secure sustainable competitive advantage
- Avoid non-profitable price competition
- Take market share instead of losing it
- Retain existing customers and gain new ones.
- Build and hold great staff
Competitor and Industry analysis arms you with knowledge that empowers you to
- make great decisions
- know when to invest
- call a buyer's bluff
- discover new opportunities
- prepare for the unexpected
Competitive Analysis is strategically powerful Business Intelligence
Competitive factors are crucial in determining how you plan your business, building competitive advantage with superior competitive intelligence.
Your competitors will NOT stand still. They want your business, and your customers. In a competitive market analysis, investigation and assessment of competitors' SWAT (strengths, weaknesses, adaptabilities and threats) is just as important as your own.
Remember: "The only constant in the world is change... "
Analysis of business competition helps develop Sustainable Competitive Advantage
In growing/developing markets, competitive activity is usually beneficial. In mature or declining markets it is dangerous. Regardless you need to know about it, so you can plan to maximise your position at their expense. Opportunities always lie in knowing your competition's focus, moves, plans... whether it be to take them on head-to-head, or avoid direct competition altogether.
A Launch Engineering Competitive Analysis helps minimise business competition
- Uncover your competitive strengths and weaknesses
- Discover how seriously competitors are, and will, impact on your existing and future business and
- Prepare for, and take advantage of, competitive activity.
Competitor Analysis is a valid marketing tool. True market orientation comes from knowing your competition, the wealth of information it brings, and the significant competitive advantage and sales opportunities that might otherwise be lost.
If beneficial, we can assist clients with in-depth Value analysis to discover Prime Buying Motives and competitors' competitive advantage.
Email Request for Competition Analysis
Using art AND science, Launch Engineering is the next best thing to product launch insurance. So let us help you, Contact us now!
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02 9904 5355Competitor analysis is an essential component of corporate strategy
Most businesses suffer competitive damage because they rely on informal feedback, gossip, and intuition. Other organisations lose because unreported valuable titbits of information about competitors just don't get reported because management don't have a corporate information collection process.
A SWOT Analysis demands good Competition and competitor analysis
Good marketing DEMANDS formal competition and competitor analysis. Without insightful and informed information ANY company is at risk of dangerous competitive blind spots from a lack of focused competitor awareness.
Relying on market research and marketing information management for incidental competition assessment and competitor analysis is NOT enough!
Competition and competitor analysis requires creativity to make sure the feedback it fits your individual needs. Don't put this off any more, contact us today to discuss your Competitor Analysis and assessment needs.
Wise Words
Know your enemy and know yourself; in a hundred battles you will
never peril.
Sun Tzu
