Market & Competitor Analysis
Evidence based Consumer Development
The demand for timely, accurate and data driven analysis is critical in so many industries particularly when you are trying to establish your competitive advantage in the market or against your competitors. Reviewing your market position, customer insights, point of difference, sector landscape are often forgotten when trying to transform your organisation or complete a business turnaround or just manage a crisis.
Many organizations and leaders overlook the significant value these data sets and market intelligence can provide for growth and business development, growth modelling and developing your strategic initiatives. Whilst this are important sources of truth for your organisation and the transformational journey you want to embark on, often people forget to understand their competitors, their demographics, their business scope and their competitive advantage.
Market Maneuverability
To grow or develop your business or enhance your market or consumer offer you first need to understand your role and place in the sector. Then more importantly you need to understand your competitors via a SWOT analysis or a market portfolio review. This will give you a solid foundation to unpack your competitors market value, consumer engagement score and more importantly their market share retention scope.
I would also suggest you understand your core business first and understand your programs and services and what attracts consumers do your business; is it location, reputation, price, employees, culture or is it a point of difference. as you always need to be prepared that a competitor will innovate to compete against your competitive advantage.
Their is tremendous value in understanding your competitor, how they operate, what do they excel in and what opportunities do they present for you to retain your current market share and expand your horizons.
At ESG Mindset Consulting we can:
- Complete a demographic market review on your closest or immediate competitors
- We can review emerging competitors who are expanding or growing and may influence your market share in the next 1, 3, 5 & 10 years.
- Present you with a market analysis of the key synergies and opportunities that your competitors have against your organisation.
- Complete and organisational and sector review via program and business portfolio to help you ascertain who maybe influencing or changing consumer demand or trends.
- Complete a competitor/customer analysis, whereby going through a process of identifying competitors in your industry and researching their different marketing strategies. You can use then use this information as a point of comparison to identify your company's strengths and weaknesses relative to each competitor.
- Provide recommendations to innovate your current offer or develop new consumer driver services and programs due to forecasted or collected customer data.
- Provide you with recommendations on what cities, districts, regions or states are viable to enter through business development
- Tell you the difference between Sales and Business Development
- Develop a roadmap which allows you to look at the entrance or expansion of current program, services or new markets or business channels.
- Provide recommendations for service divestment
- Provide recommendations around service diversification and what aligned industries offer strong returns on the CODB versus consumer demand and ROI.
Data informed analysis and market capability studies will help you drive your next strategic directional change
