PESTLE analysis of your competitors helps in acknowledging how the following features affect your competitors:
It helps in collecting and analysing superior data ( referred to as intelligence) of the competition and converting it into actionable information for your business progress. The gathered data then identifies the weaknesses of your competitors and aids in exploiting opportunities. Also, it highlights the recommendation for improved strategies.
Positioning remarks where your business ranks distinctly in the targeted market. It highlights distinguishing features (such as product uniqueness, quality etc.) of your business in relation to the competition. Thus, it enables the decision-makers to reposition your business at the top place with advanced tactics and schemes. Also, it signifies how your new/improved strategies will affect your competitors.
It compares your business with your competition and:
Highlights STRENGTHS of your competitors to know your core competency in business.
Reveal competitors’ WEAKNESSES to identify your uniqueness and analyze competitive advantage.
Exploit the competitive OPPORTUNITIES to build a plan for your business growth.
Accentuate the competitive THREATS to create and implement defensive strategies.
It aids to monitor growth of your business vs your best competition in the market. It helps to locate competitors and explore certain aspects to identify their success secrets by conducting an in depth research on the processes and performances of your key competitors and utilizing this data to make improvements in your own business strategies.
It is used to research and process data about your key competitors. Each competitor profile includes information about the products, strategies, weaknesses and other aspects of the business.
It enables you to study the market aspects before launching a new product/service and fix as high-price as possible. Not only this, it predicts the product life cycle at the highest value that will serve to generate maximum business revenue.
It helps you to learn more about the market and create effective strategies along with unique attributes that aids to outcompete your business rivals. The attributes will boost your business value and diversify loyal customer base. It plays a vital role to unlock new market opportunities and expand to a new segment.
Andrea Dama works with persistence to facilitate you to leverage a constant business growth. With a purpose-driven approach, we set up an effective workflow filled with critical metrics to better articulate and understand your competitors. Our dedicated team of experienced professionals will help you to craft an insightful and powerful business strategy.