Competition Analysis

Developing a competitive analysis plan is determining who your competitors are. Once you’ve discovered who they are, you can dig into their strategies and walk away with actionable data.

The chances of someone else offering a similar or even the same products/services are really high. So, how can you create a mechanism to deal with your competitors and gain an advantage over them? The response is a competition analysis. Anyone who would like to know how the strengths and weaknesses of their own company work when compared to competitors in the market cannot avoid regular competitor analysis. Based on the collected data about competitors and your own company, you can make statements about the current situation and make predictions about the behavior of competitors. Competition analysis helps you determine the ins and outs of how your competition operates. It recognizes what they are doing right and opportunities where you stir easily one-up them by employing a strategy, they have not taken advantage of or planned well. You get the first-hand information that users will want to use, rather than a product we want or imagine.

For a product to succeed, the brand should know their competition and collect as much data as possible. This data helps to create a solid foundation and understanding of why customer prefers your products over others or vice-versa. Competition analysis is one of the ways to get this data, which helps brands in enhancing its loyalty and drives repeat purchases. Since it unveils relevant information about market saturation, business opportunities, and industry best practices, it is also crucial to analyze your competition at various stages of your business to ensure that you are providing the best possible product or service at the right price at the right time in the right setting for your customers. SWOT analysis is one of the prime measurements to start with, as it includes an assessment of how your business compares to others when compared to their features, pricing, service quality, strengths, and weaknesses. This will give you a complete picture of the entire competitive landscape.

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What Sets divia Apart?

Steps to Competitor Analysis Success

divia conducts competition analyses regularly to stay up to date with market supply and demand and also to increase your competitive intelligence.

Call

We want to understand your business and your goals before asking you to invest. We dig deeper into your existing marketing funnel activities such as lead generation, marketing automation, content marketing, and much more based on your objectives, expectations, competitions, and trends.

Internal Discussion

Based on the information gathered during the consultation, we will create documentation encompassing your implementation plan. We will discuss with our team of digital marketers and strategists how to accelerate your brand's growth and revenue through marketing planning and tactical execution.

Offer

Identifying your target group, engaging them throughout the buyer’s journey requires specific solutions. Once we are through with “behind the scenes” and creating project implementation processes and marketing strategies, we will make you an offer, which is often tailor-made for you.

Project Kick-Off

Once the implementation plan is approved, we will begin its execution. The goals you set are what will keep us aligned to come together as one team. We are here to transform you digitally and create processes and solutions to make sure you are getting the results that fuel business growth.