To compete successfully you have to know who you’re up against.
Analyzing competitors on a regular basis is one of the most important activities for any business enterprise. Competitive intelligence or competitive analysis involves collecting, analyzing, and applying information about your competitors’ products / services, pricing strategies, and customers while making business-critical decisions.
How Can Competitive Analysis Help your Business?
We can help jumpstart strategic intelligence activities for your business by formulating a custom plan for studying and analyzing competition in the 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 competition strategies
- Assessing competitors’ reactions to your firm’s strategies such as those based on pricing, or when launching a new product / service
Questions Answered by O2I’s Competitor Analysis Services
Our competitor intelligence analysis services aims to answer key questions about your competitors in the market. These include:
- Who is our competition?
- What is the profile of our competitors?
- What are the business goals of our competitors?
- What threats / opportunities do they pose?
- What market strategies are being followed by the competition and what is the success rate?
- What are the strengths and weaknesses of our competitors?
- How will the competition react to our business tactics?
Competitor Analysis Framework Used 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.