Benchmarking method
It is used to conduct a comparative analysis of the organization's activities with the work of the best competitive companies in the industry. The main goal is to increase your own indicators and improve existing business processes. To do this, you need to:
find organizations whose indicators can be taken as benchmarks when conducting comparisons;
identify the elements in the company's work that make it the choice of supplier for the vast majority of customers;
set standards for the efficiency of the most important business processes, while their level of effectiveness should be higher than that of the benchmark company.
develop an algorithm for performing botim database actions as a result of the proposals received, with the help of which the business will achieve the indicators of the established efficiency standard and overtake competitors.
This method can be used to study and analyze the advantages of competitors' companies related to the supply, consumption and quality of products or services.
The "Competitive Market Map" Method
It helps in the unification and distribution of market participants depending on their position and role in the marketing channel. In this case, competitors, sellers and intermediaries are considered.
The "Competitive Market Map" Method
The map helps to visualize:
levels of development and competition, as well as other market parameters;
main competitors and target segment;
the size of the market share occupied by each player (for example, you can find out the position of your company among similar competitors).
A simple method for researching competitors
The method of the most convenient analysis of competitors' performance indicators is used for regular study of the situation in the industry. Within the framework of this methodology, the following are considered:
the level of industry competition and its forecast using the compilation of a competitive market map;
segmentation of competitors - key, direct, indirect;
comparison of a specific product with competitors, both direct and indirect;
types of applied cost strategies and pricing conditions;
how the product is distributed and distributed;
how brands are positioned and the image of companies is formed;
methods and techniques of product promotion, channels and budgets;
target audience, its awareness, loyalty and commitment to a certain type of product;
personnel, technology , and other resources necessary for the production of goods;
Conducting a SWOT analysis and collecting data on competitive advantages.
Experts recommend conducting such an analysis every year.