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The analysis of activities performed by competitors is the basic procedure thanks to which it becomes possible to improve the functioning of business in your own industry. The market is a kind of a living organism where reacting to the actions of the competition is a necessity, not just one of the options. Thanks to the professional analysis of the competition that we perform, we are able to verify whether the strategies used so far are effective compared to the competition’s strategy, and on the basis of the collected data, we can also propose a further action plan.
Every single business, venture or brand has its strengths and weaknesses, there is no perfect solution. Rolls Royce offers ultra-luxury cars without any compromises or any entry segment, and Dacia makes cars cheap and widely available, without any representative in the D segment and above. Both companies function and are doing well, despite the fact that they have two extreme approaches. How it’s possible? They emphasize their advantages , masking their disadvantages and reach the right customer – by analyzing their activities, we can learn their methodology. We can do the same on the example of other industries and prepare an appropriate action plan based on the collected data. The collected data and developed new strategies will contribute to growth and higher profits.
By examining the activities of competitors, you can learn about effective methods and strategies of operating in a given industry , as well as avoid mistakes, which may, in turn, result in large losses. By analyzing competitive methods, we also collect data that show us recurring trends and patterns, which can also be used to plan long-term strategies that will reduce or completely avoid various failures , and at the same time bring measurable profits . Having experience with various industries of our clients, we know what actions can be carried out in response to the current activities of the competition , we can also propose strategies based on previous analyzes without performing new ones, but it is always good to look at the issue anew.
To develop an effective strategy, you first need to know your opponent thoroughly
We assume that you already know your company – otherwise we recommend our business and marketing consulting services. If you know yourself, now it ’s time to get to know your opponent, your competition . As you already know, you are not alone in the market, so it is imperative to check what the rest of your industry is doing. Competition audit is one of the basic services that we offer to clients who want to go one level higher in business and thanks to which they achieve success. Ask us for a free quote!