Competitiveness is one of the great faces of the modern market and a real driver of innovation and economic development Jordan Email List.
What is competitive analysis
In summary, competitive analysis consists of identifying and comparing the strategies used within a market .
When and why to conduct a competitive analysis
Competitive analysis has as its main objective to illustrate the scenario of a market, therefore, it is a relevant effort for any type of business .
Overall, a competitive analysis can help a company to:
- locate yourself in your market;
- anticipate changes in your industry or trends;
- discover silent competitors;
- identify new demands or opportunities;
- discover more advantageous ways to grow and stand out.
How to identify competitors
You probably know who your main competitors are, or at least most of them. However, when we look at all angles of a market, the list is almost always longer than we think.
Unlike what many managers believe, especially small business owners, it is not just the direct competitors that deserve attention.
Companies with similar offers or audiences may also interfere with your results. Therefore, it is important that our analysis includes:
direct competitors those who offer the same services or products within their area of operation (sector and region), aiming to meet the same needs and the same audience;
indirect competitors those who offer the same or similar services or products but serve different needs or audiences;
Tertiary competitors those who offer services or products that are loosely related to yours, but who may expand or modify your operations and become direct or indirect competitors.
Identifying competitors through prospects and customers
Your audience has valuable information for your business and, therefore, it is very important to structure a sales List Provider process in which different types of relevant data can be collected, either by monitoring or by feedback.
