Competitor Analysis: Know Your Enemy

[Mimaktsa10]

Competitors in the market are not only in a state of constant confrontation, but also mutual study. After all, competitor analysis is an essential condition for creating a marketing strategy.

Want to know everything about your opponent? Contact Fractus.

Competitor Analysis: Features
Monitoring competitors' activities is one of the mandatory methods of marketing research . It allows you to understand the specifics of their existence and use this data to your advantage.

The purpose of the study is one of the following: forming a USP , drawing up a sales plan , expanding the product line, changing the pricing policy , entering a new market, upgrading the product, creating a antarctica email list 5644 contact leads positioning strategy, and much more. The analysis is carried out by any type of business, both entering the market and already existing ones.

Competitor Analysis: Features

How to find out who your competitor is
Analyzing everyone without distinction is a waste of time. It is necessary to identify key players in the market before ordering a competitor analysis. Some tools are used:

Search engines . It is enough to enter a key request to get a list of opponents' resources, and the strongest ones will be in the TOP of the results.
Offline platforms . When products are sold through regular stores, there will definitely be several examples from competitors on the shelves nearby.
Analytics services . These are both paid and free online services, for example, similarweb.com, serpstat.com.
Online presence . It is worth studying any online option: websites, ads, landing pages, social media pages.
Profile events . Visiting exhibitions and fairs is a way to get samples of goods, souvenirs, printed materials.
Such methods will only collect data. It is still necessary to find out whether these companies are competitors. And the answers to several questions will help:

Does your company's audience match that of your competitors?
Does your product and your competitors' product meet customer needs?
Do your customers encounter competitors when looking for solutions to their problems?
What will you have to study?
Basic information . This is not only the company name and the names of the founders, but also data on market share, key clients, and working capital. This includes an analysis of competitors' websites.
Product . Everything related to the assortment: the presented product line, cost, demand, promotion channels, etc.
Target audience . Complete information about who these people are and what their needs are.
Marketing policy . It is not possible to study it completely, but you can understand the key points: mission, corporate style, positioning, USP, interaction with consumers, advertising campaigns, etc.
Features of sales . Who sells, what tools and methods are used, where and how they sell, etc.
Technological level . This is equipment, access to resources and innovations, ways of saving.
What will you have to study?

Competitor Monitoring: Basic Methods
SWOT analysis : identifies the phenomenon of external and internal environmental factors (strengths and weaknesses, opportunities and threats) that affect the business.
Comparative analysis : define the criteria of analysis and compare your company and your competitor according to them. Data – table, graph or diagram.
SNW analysis : shows the strengths, neutrals and weaknesses of the company.
Competitor Analysis by Fractus
Need competitor research? Order from Fractus.

Depending on the goal your company has, we will identify your competitors in the market and collect data about them. You will be able to apply their effective tools and see the mistakes to avoid them. And build a marketing strategy based on the data (which we are also ready to help with).

Join us and choose thousands of products for wholesale and dropshipping from Ukrainian suppliers for your business, upload products to your online store!