The model for Competitive Analysis is designed such a way that it helps client to have complete information of segment wise key competitor, their strength and weaknesses, their future plan, their performance for last three to five years and core competencies.
There are chances that some player may get a competitive advantage due to tax benefit, location benefit, vertical or horizontal expansion or in management. The study can come out with those areas where client can focus and create point of parity and develop point of differentiation.
Below are the service of Kaizen Market Research and Consultancy for Competitive Analysis:
For any marketer it is important to keep track on the movement of competitor. The market is getting competitive, day by day. The increasing global competition brings entire world on a same platform where we cannot have information of all the players and their movement; however it is important to keep a watch on market leaders and the innovations in the industry. KMRC help their client to keep updated on their competitor.
It is important to compare ourselves with the best practices in industry. Kaizen Market Research and Consultancy provide a detailed benchmarking of their client with respect to competitors for many attributes. This helps client to learn from the strength and weaknesses of company with respect to other players in industry. Competitive Benchmarking is not just limited to get the numbers with respect to benchmarking but also go into depth to understand the reason behind.
The best tutor in any industry is competitor, as some time we need to fight while some time to collaborate. There is lot to learn from the competitors. Being in the same industry, our competitor may face the same challenges and apply some customized or innovative solution. We can get insight from competitors and learn from their success or failure which reduces our risk of failure.
When there is entry in new market or diversification, it is first important to do a profiling of competitors. This shall give overall industry scenario and the performance of key competitors and their strength and weaknesses. Profiling of customer is a basic step to start with and then we can categorize the competitor based on their customer segments, price and product quality, so we can reach to our strong competitor which serves the same market.
Kaizen Market Research and Consultancy gives insight on the competition which shall help their client to develop strategy. KMRC can give useful information on competitors based on their product, price, distribution and promotion. There can be different strategy where very common are low cost strategy and differentiation strategy. The insight derived from this study shall help client to develop competitive strategy.
Our clients have received answers for following questions:
If you know above answers, then it is also important that how frequently you update your knowledge for competition. There are many more questions answered by the competition analysis study or competitive intelligence.
It is been observed that 80% of organizations keep a narrow focus on few players in the industry, while they ignore other competitors which are more threatening for their business. There is need to go deep here and understand segment wise competition, which can be categorized by product features, pricing, applications targeted, geography focused and many other parameters.
At KMRC, we provide competitive advantage to our clients by updating them for market scenario and competition on timely basis. Get in touch with our experts to know more on how our market research reports helps for developing competitive advantage.
Kaizen Market Research and consultants has a core competency in competitive analysis in Ahmedabad, Vadodara, Surat, Rajkot, Mumbai, Banglore, Pune and other locations in India.