Gain an advantage on the market
An important element on Polish and foreign markets is developing the company’s strategy is adjusting its offer to competitors operating on the market. The foundation for understanding the market players is a detailed analysis of their activities in the field of marketing, sales, and business model in a given area.
Thanks to this, our clients have the opportunity to identify the competitive background before starting their business. Through effective analytical methods, we can provide our clients with market insights that are crucial in creating the company’s strategy.
Cooperating with our team will provide you an analysis that is rich in internal information about competitors obtained using both primary and secondary methods. Thanks to a network of partnerships and cooperation, we can ensure you that all information is authentic because we get them directly from the source.
Our services support many clients in obtaining external financing, including EU programs. We provide consulting services in programs such as: Go to Brand, Grant 2.4.1
about the elements that distinguishing their offer on the market
recipient of services/products offered by the competition
When you will decide to do the competition analysis, we will establish a selected team of 30 specialists working in ConQuest Consulting and the support of our over 250 network partners that that are active in the full spectrum of various markets, industries and specializations. Competition is one of the most important factors that determine the success and future of an enterprise. Even a top-selling product that is in high demand may not sustain a business if it is offered cheaply and in large quantities. Therefore, competition analysis is the basic step towards starting a business, as well as changing the profile production or the enterprise expanding.
The competition analysis and its fundamental elements
The concept of competition is treated by most entrepreneurs as a synonym of a threat. The so-called “Healthy competition” is an effective motivator which ensures that the offered goods or services have high quality.
Lack of a competitor usually leads to lower standards or inflating prices, which negatively affects the brand. Keeping the conditions that will help the company to stay on the market and ensure its development, requires maintaining a balance between the company and its competitors. They are the ones that have the highest impact on the demand and supply mechanism in the local market.
Identification of the direct competitive environment is a process that consists in determining the number and type of companies that use local resources such as (customers or raw materials) and cash. The analysis process includes seven elements:
Competitor products and services – this area includes product quality and prices. Verification of the specificity of products allows us to determine the features that determine their popularity and competitiveness.
Customers – the analysis contains the number of customers interested in products or services, as well as their specificity – age, gender, place of residence, professional status, or education. In this field, it is also useful to analyze existing data, which allows you to evaluate changes in the type of customers over time Sales channels – an area that contains the most important ways of distributing products by a competitor, such as commercial representation, internet, wholesale or retail sales, e.g. discount chain.
Target group – a category of people to whom the company’s products are directed. Thanks to the precise classification of the characteristics of the target group, the product can be adapted to the preferences of the recipients. The preferences can be determined by many factors, such as age, gender, education, professional groups, or financial status.
Competitive advantage – an element that is very difficult to study because it’s aim is to identify market niches or product features that customers will appreciate more than they appreciate competitors’ product
Financing – it requires analyzing the competitive company’s history and determining what options have been used to achieve success. Using a proven pattern can be a recipe for your success.
Strengths and weaknesses – SWOT analysis that is highly valued in business, helps in determination Strengths and weaknesses. A good SWOT analysis is a condition for starting a business. Some enterprises, such as trade or service industries, require special methods. One of them is the so-called SWOT. Its role is to play a client and find as many features that are profitable for competitors as possible.
Competition analysis with ConQuest Consulting
The study and analysis of all elements, which include the identification of the immediate competitive environment, requires using appropriate tools, as well as the ability to collect and analyze the gathered data. We have not only experienced team but also we cooperate with 250 external experts, thanks to whom the analyzes are more comprehensive and more accurate. Existing data analysis, mystery client research, or product specificity verification are carried out professionally – in cooperation with the client. As a result, we can provide them detailed market data, which is crucial in creating the company’s strategy.