How to outsmart competitors?

Part 1 – Competitor analysis. Hands-on exercises

As a company, you provide goods or services to a need. There is a limited number of people with that specific need. There are even much less people that have the means (money) to choose the best option to solve their need. For every need, people can choose your solution or that of your direct competitors, or they can choose an alternative option. We call this latter ‘indirect competitors’. But, we also want to look at competitors that are likely to grab part of the market in the coming years.

Direct competitors are businesses that offer the same or very similar products or services and target the same customer segments. They operate in the same industry and often have similar value propositions. These competitors are the most obvious and immediate threats to a company's market share because they are vying for the same customers with +- equivalent offerings.

Indirect competitors are businesses that offer different products or services to the same potential customers. While they may not be directly comparable, they serve as alternatives or substitutes in fulfilling a similar customer need or desire.??

Understanding the competitive landscape is vital in choosing our strategy, tactics, and battles. It should also determine the pricing strategy, product/service differentiation and communications and campaigns. And, afterwards, it's easy to make battlecards that help your sales to win more fights.

Competitors analysis is fun, goes quick and deliver valuable insights and quick results.

I have selected or developed 7 exercises for you to choose from; Competitors analysis matrix, Why buyers choose competitors, Market share (Boston Matrix), List shortcomings direct competitors, Price strategies competitors, Customer perceptions, Capacity to deliver expertise, comparison.

In only three days work you'll get the insights to make a sharp strategy and develop smart tactics. Just call me on +32 488 663 284 and we get this done together within days. Bart Peeters, [email protected] - Here is a link to my eFlipbook manual - Marketing handboek voor Vlaamse bedrijven - overzicht van alle marketing mogelijkheden voor KMOs.