• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Competitor analysis
 

Competitor analysis

on

  • 3,018 views

 

Statistics

Views

Total Views
3,018
Views on SlideShare
2,996
Embed Views
22

Actions

Likes
3
Downloads
76
Comments
1

1 Embed 22

http://www.scoop.it 22

Accessibility

Categories

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel

11 of 1 previous next

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
  • good notes
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Competitor analysis Competitor analysis Document Transcript

    • Competitor analysisIn today’s highly competitive market, it is extremely recommended that every business shouldanalyze their competitors every now and then. This is also true with SEO.With thousands of SEO companies having set their strong foothold as well as with many othersburgeoning up, it would be a grave oversight to underestimate your competitors.In order to remain on top of competition and even make through in this cut-throat businessrivalry, it is really crucial to learn what your competitors are doing online. Therefore, it is highlynecessary to undertake an In-Depth Competitor Analysis not only regularly but even at the startof your search engine optimization campaign of your business.What is Competitor Analysis?Competitor analysis is a crucial part of an SEO campaign in which one study assesses andanalyzes in detail all aspects of each current and potential competitor’s online marketingstrategy.Why do a Competitor Analysis?Many SEO services provide SEO packages that include competitor analysis though many stillbelieve in the high ranking of their keywords as a tangible proof of a properly managed SEOcampaign. However, a high PageRank wouldn’t generate traffic; much less generate leads andsales to the website, especially if a site ranks well for keywords that aren’t often searched.So, it is actually much better, though Pagerank still matters, to focus on doing a competitoranalysis because it will:help you determine the factors why they are ranking much better than your siteprovide an informed basis to think and plan well for some SEO Techniques and strategies onhow to outrank your competitorshelp your business understand their competitive advantages/disadvantages relative to competitorsgenerate understanding of competitors’ past, present and most importantly future onlinemarketing strategieshelp predict the returns that may be made from future investmentsSearch Engine Optimisation TipsIn order to outrank and out-sale your competitors, do these SEO tips:1. Discover who are your real and main competitorsSearch Google for five of your keywords. The websites that have high rankings or rank best foryour keywords are your main competitors.2. Analyze the Backlinks of your CompetitorsFind out how many of the links to your competitors contain your target keywords then try tohave more inbound links that contain your target keywords than your competitors’ in order tobeat your competitor.3. Check the PageRank spread of the linking pagesFind the Google PageRank of each page that links to your competitors, for it can also help you infinding out why some websites rank higher than others. Then if you want to outperform them, tryto get more high PR links.4. Check the top level domains of the linking pagesTry to have more backlinks from websites that use the corresponding top level domain than yourcompetitors5. Check the content of the linking pagesGoogle prefers websites that get links from related websites. Try to acquire more inbound linksfrom related websites than the websites of your competitors.6. Used these specific key metrics in analysisPage Authority (PA) gives a good picture of the relevancy and quantity of high quality sites anddomains that link to the page.
    • Domain Authority (DA) gives a good picture of the relevancy and quantity of high quality sites and domains that link to the entire domain Unique Domains – Page reflects the quality of inbound links that point to a specific URL or page as Google looks at specific linking domains and the quantity of unique domains tends to be better Unique URLs – Page reflects the true quantity of inbound links as Google looks at the specific linking URLs and domains. Unique Domains – Domain reflects the true quantity of inbound links that point to the entire domain as Google looks at the specific linking URLs and domains. Unique URLs – Domain reflects the true quantity of inbound links that point to the entire domain as Google looks at the specific linking URLs and domains. KW Relevance – Page indicate how relevant a specific URL or page is for a specific keyword or phrase KW in URL reflects how many of the target keywords are present in the ranking URL 7. Compile & Review Search Engine Result Page (SERP) Data Find out your three primary target keywords used by your competitors then gather and review the Domain Authority, Page Authority, Keyword Relevance and Keyword in URL Data of these targeted keywords. Outsource Competitor Analysis to Outsource2india Knowing all about your competitors is as important as having an inside knowledge of your business. Any kind of organization, even in a monopolistic market, needs to identify and assimilate potential rivals’ strategies into their own decision making process. Competitive intelligence or competitive analysis involves collecting, analyzing and applying information about your competitors’ products / services, pricing strategies and customers in making business-critical decisions. How competitive analysis can help? Outsource2india can help jumpstart strategic intelligence activities for your business by formulating a custom plan for studying and analyzing competition in a market. Our competitive intelligence analysis service uncovers critical information such as:• Understanding strengths, weaknesses, opportunities and threats (SWOT) relative to your competitors• Understanding past, present and future strategies of competition• Assessing competitors’ reactions to your firms strategies such as those based on pricing or when launching a new product / service Outsource2india’s competitor analysis services Outsource2india’s competitor intelligence analysis services aims to answer key questions about your competitors in the market. These include: 1. Who is our competition? 2. What is the profile of our competitors? 3. What are the business goals of our competitors? 4. What threats / opportunities do they pose? 5. What market strategies are being followed by the competition and what is the success rate? 6. What are the strengths and weaknesses of our competitors? 7. How will our competition react to our business tactics? By using multiple sources of data, online and offline, we can reveal what the competition is doing and saying. Data sources that we use to gather information include:• Annual reports / Balance Sheet• Product Pricing• Analyst reports• Regulatory reports
    • • Tax filings• Customer feedback / references• Trade shows / Conferences• Social Networks• Discussions with ex-employees and distributors• Newspaper articles• Press releases• Marketing promotions• Recruitment activities• R & D projects• Capital investments• Joint ventures / Strategic Alliances• Mergers & Acquisitions Competitor analysis framework used at Outsource2india At Outsource2india, we use Michael Porter’s framework for analyzing competitors. The competitor analysis framework is based on the following aspects of a competitor: The competitor’s capabilities and strategy is what the competitor is currently accomplishing or capable of doing in the future. The competitor’s objectives and assumptions are the factors that drive the competitor. Competitive intelligence process at Outsource2india Outsource2india utilizes a mix of both qualitative and quantitative data analysis to conduct a competitive business intelligence assignment. By measuring various parameters and applying statistical software like SPSS and SAS, we can derive thorough and descriptive reports about your competitors.
    • Quantitative data analysis Quantitative analysis applies statistical models to measure market conditions and product related factors with respect to your competitors. This gives not only information about your adversaries, but also the standing of your own business and how you can improve / refine strategies to gain advantages. These specific factors are analyzed:• Target audience analysis• Brand Equity / Recall• Key drivers in the market for your products / services• Compare product attributes with that of your competition Qualitative data analysis Qualitative analysis includes using web based research methods to collect and analyze competitive intelligence information. A detailed report is prepared at the end of the analysis. The data is found on the internet, relevant information is extracted and organized into an easy-to-comprehend format and the unnecessary data is left out. Partner with Outsource2india for world class competitive research Outsource2india has helped companies of all sizes gain a business advantage by assessing their competition on various parameters. One of the most important pieces in the marketing and business management is to analyze and research the competition. In this article I will show you some very useful tips on “reading” of the competition. Trust me on that. There is no other activity you can participate in it and give you the depth of perspective, analysis and how you can benefit from competition. Let’s see how. Identify your closest competitors. For each one, compare and contrast the following categories. -The products or services you provide information to consumers.
    • -The prices they charge.-What customers see as an advantage to that competitor.-What do customers consider as weaknesses of the competitor.-The customers – who are they?-How many and who are loyal customers?What happens if all the practices used to enhance customer loyalty.Uses innovative business methods and products.-The brand is worth planning.-Who owns the company, what are the motivations and style.Basically, people driving the business, style and motivation.-What do you do better than that competitor.-What do the same with this competitor.-What do worse than this competitor (be honest!).-In carrying out this type of analysis will reveal a treasure: the ideas of the new product and service,ways you can improve and win at the beginning of your competitors.No business operates in a vacuum, and the Internet has broadened immeasurably the choice inmost industries. If you do not scrutinize your competitors, “you lose a large bay, probably thebiggest” trick “of all time.”As in the rest of his life, culminating in the submission. So to get the most from this exercise, youshould invest at least 4-8 hours a day.But if you do it right, I promise that you will anarpastoi!In fact, I predict that you will find it so useful that you should have no hesitation. Set a reminder torepeat the process every 3-6 months to ensure that you are above your competitors.Business takes place in a highly competitive, volatile environment, so it is important fornew property managers and property management companies to understand the competition.Questions like these can help:* Who are your five nearest direct competitors?* Who are your indirect competitors?
    • * Is their business growing, steady, or declining?* What can you learn from their operations or advertising?* What are their strengths and weaknesses?* How does their product or service differ from yours?Start a file on each of your competitors; include advertising, promotional materials, and pricingstrategies. Review these files periodically, determining how often they advertise, sponsorpromotions, and offer sales. Study the copy used in the advertising and promotional materials andtheir sales strategies.What to Address in Your Competitor Analysis* Names of competitors: List all of your current competitors and research any that might enter themarket during the next year.* Summary of each competitor’s products: This should include location, quality, advertising, staff,distribution methods, promotional strategies, customer service, etc.* Competitors’ strengths and weaknesses: List their strengths and weaknesses from the customer’sviewpoint. State how you will capitalize on their weaknesses and meet the challenges represented bytheir strengths.* Competitors’ strategies and objectives: This information might be easily obtained by getting a copyof their annual report. It might take the analysis of many information sources to understandcompetitors’ strategies and objectives.* Strength of the market: Is the market for your product growing sufficiently so there are enoughcustomers for all players?Ideas for Gathering Competitive Information* Internet: The Internet is a powerful tool for finding information on a variety of topics.* Personal visits: If possible, visit your competitors’ locations. Observe how employees interact withcustomers. What do their premises look like? How are their products displayed and priced?* Talk to customers: Your sales staff is in regular contact with customers and prospects, as is yourcompetition. Learn what your customers and prospects are saying about your competitors.* Competitors’ ads: Analyze competitors’ ads to learn about their target audience, market position,product features, benefits, prices, etc.* Speeches or presentations: Attend speeches or presentations made by representatives of yourcompetitors.* Trade show displays: View your competitor’s display from a potential customer’s point of view.What does their display say about the company?Observing which specific trade shows or industryevents competitors attend provides information on their marketing strategy and target market.* Written sources: Use general business publications, marketing and advertising publications, localnewspapers and business journals, industry and trade association publications, industry researchand surveys, and computer databases (available at many public libraries).Knowing the competition will help new property managers and property management companies toimprove their business.This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager,and Property Management Companies. Property Management Companies and Property Managers
    • Guide to Competitive Analysis in New Businesses is brought to you by SimplifyEm Pay Rent Onlineand Property Management SoftwareYou might also want to read:1. Property Management Companies And Property Managers Guide to Unfair Business Practices Many new property management companies or property managers will do almost anything to gain an edge on the competition. Without a clear understanding of antitrust laws, the price of gaining......2. Property Management Companies and Property Managers Guide to Successful Marketing Plan A sound marketing plan is key to the success of new property managers and property management companies. It should include their market research, location, the customer group they have targeted,......3. Property Management Company and Property Managers Guide to Strategic Planning It is a great tool for property management companies or property managers to use strategic planning when they are starting to offer property management services. Too many people think strategic......Conducting SEO Competitive Analysis: Part 3In my previous posts on competitors, I was talking about conducting on-page and off-pagecompetitive analysis. In this post we’ll proceed further and discover even more opportunities ofcompetitor research.Every businessman tries to get as much information as possible on his competitors; similarlyyour competitors will do their best to find out more about your success tricks. • Know what your competitor knows about you.When performing web analytics, pay attention to every detail, particularly traffic sources. If youget traffic from your competitor websites, check out the pages they go to and how much timethey spend on viewing them. Say your competitor regularly visits your blog page and spends 2minutes in average; obviously he’s keeping a track of your updates. • Know the SEO program your competitor uses for web analysis.
    • · Nowadays most of the companies use SEO tools for web analysis. Once you identify the tool your competitor uses you’ll have the opportunity to find out what he can track. Note that your business performance depends on how well you understand your competitors. • How to define which SEO program your competitor uses?· Go to competitor website’s landing page, open HTML source and check out the tracking code. By discovering the tracking code, it is possible to find out the SEO tool he uses. This is a bit difficult, however taking into account that it is crucially important, its worth trying. • Be aware of competitor updates.· First of all, your competitors are doing the same thing and that is, trying to beat you; especially if you constantly grow and improve your services, your competitor will want to offer suchlike staff to stand out in the market. For this reason regularly check out your competitor’s web site to track his updates andwhether or not he has copy/pasted anything. Keep in mind that being aware of what your competitor does and what he knows about you means having some idea on his upcoming projects. This is already a success. Besides, it is a great learning experience to know if your competitor has succeeded in achieving what you are intending to achieve and in case he did how he managed these all. Competitor analysis Competitor analysis is a critical component of thestrategic planning processes. It enables an organisation to take better informed decisisons about its strategy and its allocation of resources. There are 6 mains steps to competitor analysis. These are: 1. Determine the competitive set – This is usually straight forward but do remember to also consider what other substitute product or services you customers might buy and not just the close competitors. Focus on the key competitors and or key types of competitors and don’t spread the jam too thinly. 2. Gather the information – This is the time consuming part of competitor analysis. It helps to have a clear view of the questions you need answers to in order to focus the information gathering process. There are usually 8 to 10 need to know questions of which 6 are common to every market. The other 2 to 4 are market or situation specific. The six common need to know questions are: • What is their mission?
    • • What is their current strategy? • How are they performing and why? • What are their most important activities? i.e. Where is the centre of gravity of their business. This could be products, services, customers, trade channels, regions, etc. Whatever is most appropriate. • What are their SWOT’s • What is their likely future strategy? 3. Analyse the information – Focus the analysis of providing answers to the need to know questions. 4. Make deductions – There are always information gaps. But with the information you have, you can sometimes make informed deductions. Think of this as trying to complete a jigsaw puzzle where some of the pieces are missing. You will almost certainly have to deduce your competitor’s current and future strategy. 5. Draw conclusions – Summarise what you have learnt about each key competitor or type of competitor and think about the implications for your business. 6. Take action – This is the most important part of competitor analysis. Use your learnings to inform your strategy and strategic plan.Once you have defined the strategic plan for your business, it is worth considering what each of yourmain competitors would do if they had a copy of your strategic plan. Do so, and you will always findsome ways to improve the robustness of your plan.As Sun Tzu, an ancient Chinese general famously said, ‘If you know yourself and know your enemy,you need never fear the result of 100 battles.’About Compete to WinCompete to Win transforms companies. We work with prestigious blue chip companies andambitious entrepreneurs to enable them to realise the full potential of their businesses. Compete toWin works collaboratively with you and your team to help you develop a winning strategy anddeliverable strategic plan. By actively engaging you, we ensure you own the strategic plan andconsequently are highly motivated to implement it with commitment, passion and pace. Uniquely, weguarantee that value we add will exceed our fees (see the sidebar). Discover more about our worldclass strategic planning service or view short case studies andtestimonials. Work with Compete toWin and play at the top of your game.Competitor analysisFrom Wikipedia, the free encyclopediaCompetitor analysis in marketing and strategic management is an assessment of the strengths andweaknesses of current and potential competitors. This analysis provides both an offensive and defensivestrategic context to identify opportunities and threats. Profiling coalesces all of the relevant sources of
    • competitor analysis into one framework in the support of efficient and effective strategy formulation,implementation, monitoring and adjustment.[1]Competitor analysis is an essential component of corporate strategy. It is argued that most firms do notconduct this type of analysis systematically enough. Instead, many enterprises operate on what is called“informal impressions, conjectures, and intuition gained through the tidbits of information about competitorsevery manager continually receives.” As a result, traditional environmental scanning places many firms at riskof dangerous competitive blindspots due to a lack of robust competitor analysis. [2] Contents [hide] 1 Competitor array 2 Competitor profiling 3 Media scanning 4 New competitors 5 See also 6 Notes 7 References[edit]Competitor arrayOne common and useful technique is constructing a competitor array. The steps include: Define your industry - scope and nature of the industry Determine who your competitors are Determine who your customers are and what benefits they expect Determine what the key success factors are in your industry Rank the key success factors by giving each one a weighting - The sum of all the weightings must add up to one. Rate each competitor on each of the key success factors Multiply each cell in the matrix by the factor weighting.This can best be displayed on a two dimensional matrix - competitors along the top and key success factorsdown the side. An example of a competitor array follows: [3] Key Industry Competitor Competitor Competitor Competitor Weighting Success Factors #1 rating #1 weighted #2 rating #2 weighted1 - Extensive distribution .4 6 2.4 3 1.2
    • 2 - Customer focus .3 4 1.2 5 1.53 - Economies of scale .2 3 .6 3 .64 - Product innovation .1 7 .7 4 .4Totals 1.0 20 4.9 15 3.7In this example competitor #1 is rated higher than competitor #2 on product innovation ability (7 out of 10,compared to 4 out of 10) and distribution networks (6 out of 10), but competitor #2 is rated higher on customerfocus (5 out of 10). Overall, competitor #1 is rated slightly higher than competitor #2 (20 out of 40 compared to15 out of 40). When the success factors are weighted according to their importance, competitor #1 gets a farbetter rating (4.9 compared to 3.7).Two additional columns can be added. In one column you can rate your own company on each of the keysuccess factors (try to be objective and honest). In another column you can list benchmarks. They are the idealstandards of comparisons on each of the factors. They reflect the workings of a company using all theindustrys best practices.[edit]Competitor profilingThe strategic rationale of competitor profiling is powerfully simple. Superior knowledge of rivals offers alegitimate source of competitive advantage. The raw material of competitive advantage consists of offeringsuperior customer value in the firm’s chosen market. The definitive characteristic of customer value is theadjective, superior. Customer value is defined relative to rival offerings making competitor knowledge anintrinsic component of corporate strategy. Profiling facilitates this strategic objective in three important ways.First, profiling can reveal strategic weaknesses in rivals that the firm may exploit. Second, the proactive stanceof competitor profiling will allow the firm to anticipate the strategic response of their rivals to the firm’s plannedstrategies, the strategies of other competing firms, and changes in the environment. Third, this proactiveknowledge will give the firms strategic agility. Offensive strategy can be implemented more quickly in order toexploit opportunities and capitalize on strengths. Similarly, defensive strategy can be employed more deftly inorder to counter the threat of rival firms from exploiting the firm’s own weaknesses. [2]Clearly, those firms practicing systematic and advanced competitor profiling have a significant advantage. Assuch, a comprehensive profiling capability is rapidly becoming a core competence required for successfulcompetition. An appropriate analogy is to consider this advantage as akin to having a good idea of the nextmove that your opponent in a chess match will make. By staying one move ahead, checkmate is one stepcloser. Indeed, as in chess, a good offense is the best defense in the game of business as well. [2]A common technique is to create detailed profiles on each of your major competitors. These profiles give an in-depth description of the competitors background, finances, products, markets, facilities, personnel, andstrategies. This involves:
    •  Background  location of offices, plants, and online presences  history - key personalities, dates, events, and trends  ownership, corporate governance, and organizational structure Financials  P-E ratios, dividend policy, and profitability  various financial ratios, liquidity, and cash flow  profit growth profile; method of growth (organic or acquisitive) Products  products offered, depth and breadth of product line, and product portfolio balance  new products developed, new product success rate, and R&D strengths  brands, strength of brand portfolio, brand loyalty and brand awareness  patents and licenses  quality control conformance  reverse engineering Marketing  segments served, market shares, customer base, growth rate, and customer loyalty  promotional mix, promotional budgets, advertising themes, ad agency used, sales force success rate, online promotional strategy  distribution channels used (direct & indirect), exclusivity agreements, alliances, and geographical coverage  pricing, discounts, and allowances Facilities  plant capacity, capacity utilization rate, age of plant, plant efficiency, capital investment  location, shipping logistics, and product mix by plant Personnel  number of employees, key employees, and skill sets  strength of management, and management style  compensation, benefits, and employee morale & retention rates Corporate and marketing strategies  objectives, mission statement, growth plans, acquisitions, and divestitures  marketing strategies[edit]Media scanningScanning competitors ads can reveal much about what that competitor believes about marketing and theirtarget market. Changes in a competitors advertising message can reveal new product offerings, newproduction processes, a new branding strategy, a newpositioning strategy, a new segmentation strategy, lineextensions and contractions, problems with previous positions, insights from recent marketing orproduct research, a new strategic direction, a new source of sustainable competitive advantage, or valuemigrationswithin the industry. It might also indicate a new pricing strategy such as penetration, price
    • discrimination, price skimming, product bundling, joint product pricing, discounts, or loss leaders. It may alsoindicate a new promotion strategy such as push, pull, balanced, short term sales generation, long term imagecreation, informational, comparative, affective, reminder, new creative objectives, newunique sellingproposition, new creative concepts, appeals, tone, and themes, or a new advertising agency. It might alsoindicate a newdistribution strategy, new distribution partners, more extensive distribution, more intensivedistribution, a change in geographical focus, or exclusive distribution. Little of this intelligence is definitive:additional information is needed before conclusions should be drawn.A competitors media strategy reveals budget allocation, segmentation and targeting strategy, and selectivityand focus. From a tactical perspective, it can also be used to help a manager implement his own media plan.By knowing the competitors media buy, media selection, frequency, reach, continuity, schedules, and flights,the manager can arrange his own media plan so that they do not coincide.Other sources of corporate intelligence include trade shows, patent filings, mutual customers, annual reports,and trade associations.Some firms hire competitor intelligence professionals to obtain this information. The Society of CompetitiveIntelligence Professionals[1] maintains a listing of individuals who provide these services.[edit]New competitorsIn addition to analysing current competitors, it is necessary to estimate future competitive threats. The mostcommon sources of new competitors are: Companies competing in a related product/market Companies using related technologies Companies already targeting your prime market segment but with unrelated products Companies from other geographical areas and with similar products New start-up companies organized by former employees and/or managers of existing companiesThe entrance of new competitors is likely when: There are high profit margins in the industry There is unmet demand (insufficient supply) in the industry There are no major barriers to entry There is future growth potential Competitive rivalry is not intense Gaining a competitive advantage over existing firms is feasible[edit]See also Marketing Industry or market research Industry information
    •  Marketing management Marketing plan Competitive intelligenceCompetitor AnalysisAuthor: Jim Riley Last updated: Wednesday 24 October, 2012IntroductionCompetitor Analysis is an important part of the strategic planning process. This revision note outlinesthe main role of, and steps in, competitor analysisWhy bother to analyse competitors?Some businesses think it is best to get on with their own plans and ignore the competition. Othersbecome obsessed with tracking the actions of competitors (often using underhand or illegalmethods). Many businesses are happy simply to track the competition, copying their moves andreacting to changes.Competitor analysis has several important roles in strategic planning:• To help management understand their competitive advantages/disadvantages relative tocompetitors• To generate understanding of competitors’ past, present (and most importantly) future strategies• To provide an informed basis to develop strategies to achieve competitive advantage in the future• To help forecast the returns that may be made from future investments (e.g. how will competitorsrespond to a new product or pricing strategy?Questions to askWhat questions should be asked when undertaking competitor analysis? The following is a useful listto bear in mind:• Who are our competitors? (see the section on identifying competitors further below)• What threats do they pose?• What is the profile of our competitors?
    • • What are the objectives of our competitors?• What strategies are our competitors pursuing and how successful are these strategies?• What are the strengths and weaknesses of our competitors?• How are our competitors likely to respond to any changes to the way we do business?Sources of information for competitor analysisDavidson (1997) described how the sources of competitor information can be neatly grouped intothree categories:• Recorded data: this is easily available in published form either internally or externally. Goodexamples include competitor annual reports and product brochures;• Observable data: this has to be actively sought and often assembled from several sources. Agood example is competitor pricing;• Opportunistic data: to get hold of this kind of data requires a lot of planning and organisation.Much of it is “anecdotal”, coming from discussions with suppliers, customers and, perhaps, previousmanagement of competitors.The table below lists possible sources of competitor data using Davidson’s categorisation:Recorded Data Observable Data Opportunistic DataAnnual report & accounts Pricing / price lists Meetings with suppliersPress releases Advertising campaigns Trade showsNewspaper articles Promotions Sales force meetingsAnalysts reports Tenders Seminars / conferencesRegulatory reports Patent applications Recruiting ex-employeesGovernment reports Discussion with shared distributorsPresentations / speeches Social contacts with competitorsIn his excellent book [Even More Offensive Marketing], Davidson likens the process of gatheringcompetitive data to a jigsaw puzzle. Each individual piece of data does not have much value. Theimportant skill is to collect as many of the pieces as possible and to assemble them into an overallpicture of the competitor. This enables you to identify any missing pieces and to take the necessarysteps to collect them.
    • What businesses need to know about their competitorsThe tables below lists the kinds of competitor information that would help businesses complete somegood quality competitor analysis.You can probably think of many more pieces of information about a competitor that would be useful.However, an important challenge in competitor analysis is working out how to obtain competitorinformation that is reliable, up-to-date and available legally(!).What businesses probably already know their competitorsOverall sales and profitsSales and profits by marketSales by main brandCost structureMarket shares (revenues and volumes)Organisation structureDistribution systemIdentity / profile of senior managementAdvertising strategy and spendingCustomer / consumer profile & attitudesCustomer retention levelsWhat businesses would really like to know about competitorsSales and profits by productRelative costsCustomer satisfaction and service levelsCustomer retention levelsDistribution costsNew product strategiesSize and quality of customer databasesAdvertising effectivenessFuture investment strategyContractual terms with key suppliers
    • Terms of strategic partnerships