Competitor analysis

Conducting of competitor analysis includes the realization of such stages of marketing research:

Identification of key competitors.
Identification the basic parameters of competition.
Studying of the pricing policies and product offerings of competitors.
Studying of the distribution channels.
Studying of the the brand portfolio.
Exploring of strategies for promoting.
Studying of advertising and marketing activities.

The basic elements of competitive analysis are:

Product – determination of background, possibilities and specifics of market entry for updated or new products of competitor companies; analysis of competitor’s assortment range, basic characteristics of their products, set of brands in a commodity portfolio; studying of competitor’s decisions within the separate stages the product life cycle (in particular, in such spheres as packaging, design, type of material, etc.).

Price – determination of competitor’s pricing strategy principles and selection of its pricing methods, detail analyze of prices and studying of price programs, assessment of profitability level, price segmentation and estimate of the proportion of each of them in total sales.

Communication – analysis of competitor’s market communication systems in areas of attracting for high-performance workforce, activation of deliveries of raw materials and distribution of finished production, sales, advertising, PR, etc.; identifying of marketing strategies, programs, ideas and assessment of their effectiveness.

Sales – determination of competitor’s sales strategy, analysis of the marketing policy and instruments of its realization; studying of distribution channels and its manage instruments, assessment of their effectiveness. Sales competitive analysis includes studying of competitor’s logistics schemes, its relation with external sales network and with customers, analysis of before-and after-sales service, assessment of competitor’s amount of sold products and service quality.

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