Competitor analysis is an implicit component of corporate strategy. It aims to systematically study information about competitors’ products, research and development activities, production methods and costs, organizational structures, financial status, marketing strategies, as well as their strengths and weaknesses.
We analyze our client’s current and emerging competitors, evaluate the competitor’s impact, and devise a competitive differentiation strategy. Typical client questions include:
- What is the competitor’s local strategies?
- What can we learn from the success of our competitors?
- How can we measure our performance against our competitors?
- What are the best practices in our industry?
- What are the local marketing claims of our global competitors?
While you may not yet know who your future competitors are, you can prepare for their emergence and evaluate the threats they may pose. It is necessary to monitor all related industries and markets, in all territories.
Competitive Monitoring and Analysis
To better anticipate the emergence of new competitors and potential threats, it is advisable to carry out continuous monitoring of your market environment and competitive landscape.
Given the tougher trading conditions and the intensifying of competition for less and less available consumer spending, companies need to take a whole fresh look at their existing strategy. Organizations need to monitor and update their last set of assumptions about where their growth will come from. Terra Nova Insights competitive profiling monitoring and analysis service is a vital window on the world.
Competitive and Industry Tracking
In some cases our analysis looks at competitors on an annual basis. This is appropriate to the big picture, strategic view we provide. In some cases weekly, monthly or quarterly competitive tracking is complimented by our competitive database platform and dedicated curator for archived news and timely department newsletters and/or ongoing reports.