MarketingMarketing Tips

Marketing Research Competitors

In a world of mass production, where most organizations represent the same or similar services and goods, detachment from competitors is one of the important tasks of marketing . To maximize the correct positioning and detuning, it is recommended to conduct marketing research of competitors whose task is to identify strong, as well as weak points of the enterprise for further development of the ideal strategy of the enterprise's behavior in the market. Of course, competing companies in all conditions closely monitor the economic victories and defeats of each other. In addition, knowing the background of any innovation of competitors, it is easier to determine the degree of its utility. In this case, you can judge directly by the result - the share in the market that they have received or lost. Competitors actively implement the best achievements of each other. After all, to repeat the result of someone else's success is still much easier than the first to introduce one's own.

However, only experienced analysts can make a really accurate conclusion about what specific actions have helped to achieve the effect. After all, at the same time period a competing firm can carry out several activities: an advertising company, moving an office, a staff motivation program, introducing discounts, shifting working hours, etc. Just sharing information would be the best strategy in the long term. Now in the Russian business, attempts are being made to achieve this within the framework of self-regulating organizations. And Japanese entrepreneurs, for example, have long believed that such an exchange of experience can increase the investment attractiveness of the company and better lobby its interests at different levels.

What is the structure of marketing research of competitors? To date, there are no clear requirements for the analysis of competitiveness. As a rule, each analyst is engaged in the development of his own algorithm, which must necessarily contain the following stages:
1. Search for leaders in the market.
2. Definition of economic drivers in the industry.
3. Identification of factors that influence competition.
4. Identify the prospects for rapid development of the market, as well as enterprises in this market.

What are the economic drivers? This term means indicators:
• Market growth rates;
• The size of the market;
• Number of competitors;
• Number of customers;
• Ease of entering the market;
• Profitability in the industry.

It is advisable to conduct a marketing analysis of the competition taking into account all the above and other important indicators, which in some way can influence the market, as well as the degree of competition within it.

Do not forget about the forces that directly affect the position of competitors. What can be attributed to such forces? This can be various innovations that are introduced into production, technological changes. The marketing innovations also influence the market and the power balance within it.

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