Competition & Market Analysis

An important part of a company’s strategy and marketing efforts is to know and understand what the competition is doing. This allows you to take advantage of any areas that they may not offer a product or service, find their shortcomings, give you concrete knowledge of their pricing structure and policies, as well as educate you in any new developments in services they are implementing which might give them an edge over you.

This form of research can also involve “shopping” the competition by physically visiting their retail locations, reading their website, interacting with their sales personnel and other means of finding out what we can learn from them on how you can best grow your business.

In the process, we frequently spot aspects of your competition’s sales and marketing efforts that have left certain business opportunities open for your exploitation. Often we can spot business areas in where your competition are negatively affecting your bottom line.

 

An important side note of the competition analysis process, is that this process often
uncovers elements of your own business that can be finessed to improve your bottom line and make you more competitive!