Competitors analysis: secret becomes clear

Competitor analysis is especially popular among Ukrainian businesses before making decisions related to the development or adjustment of their own marketing strategy and other aspects of enterprise management.

Why order competitors analysis right now?

Doing business in a period of abrupt changes in the market environment is like playing chess in a vehicle moving on potholes. The push – and most of the pieces changed their positions on the board, and some left it at all. But since the game cannot be replayed, we have to plan further moves based on the new picture of the playing field.

Competitor analysis provides information about the current situation in your market segment in terms of positions and actions of other players. Competitors research is effectively to order in a package with in-depth market research, but also as a separate research. It will increase your information armament and thus give an advantage in the competition.

Conducting competitive analysis is effective in:

• development of the policy of setting prices for products (services) of the company - analysis of competitors' prices;
• forecasting and planning of sales volumes - analysis of competitors’ prices and goods (services);
• identifying the degree of influence of changes in the market environment on the placement of major operators - a general research of competitors;
• identification of strengths and weaknesses, opportunities and threats of business activities of your own company – SWOT-analysis.

If you are seriously thinking about monitoring your market operators and other components, get acquainted with all the types and approaches in marketing research

Pro-Consulting's capabilities in the analysis of competitors

Pro-Consulting has more than 15 years of experience in conducting various types of marketing research, including competitors analysis. We have been a permanent member of the Ukrainian Marketing Association since 2005, and more than 1700 analytical market research cover almost all areas of business.

Qualitative analysis of competitors is often possible with a combination of a desk and field research methods. Consultants and analysts have a full set of techniques and tools for collecting complete and relevant primary and secondary information.

The main data sources in the competitors analysis are:

• survey of the target audience – Pro-Consulting will use a staff call center;
• analytical articles and reviews from open sources, as well as Pro-Consulting’s and our partners’ databases;
• exhibitions, seminars, presentations, where your competitors tell a lot of interesting information about themselves;
• in-depth interviews with competent market experts – their information and conclusions can be trusted;
• methods of secret data collection – reading competitors' newsletters, communicating with their managers, the method of "mystery shopper / mystery call", etc;
• queries to search engines on the Internet analysis – see who, when searching for information on a particular product or service, is in the issue above you and why;
• research of outlets – the order of goods location, customers behavior and other important data.

As a result of collecting and processing information from all the above and other sources, the client receives competitors analysis in the most visual and convenient for further use view.

                We recommend you familiarize yourself with the structures of published market analyzes in order to assess if your business needs independent market research and analysis of your positions in it.

Published competitors analysis usually includes the following elements:

• competitors' products analysis;

• list;
• characteristics;
• areas for improvement;

• price analysis of competitors;

• pricing strategy;
• opportunities for price maneuver;

• analysis of competitors’ market relations;

• supply of raw materials;
• retailers;
• impact on consumers;
• personnel policy;

• analysis of competitors’ marketing strategies;

• sales policies;
• logistics schemes;
• additional services.

Armed with a report with competitor analysis results, your business will be able to form an effective competitive strategy that allows you to maintain and strengthen your market place.

If you search for information on your market on the Internet, but can not systematize and analyze it, just contact us – we guarantee independent market analysis for business decisions