Studying the competitive environment is not industrial espionage. This is an opportunity to see what is happening in the external environment and give your brand a chance to choose the best development strategy. Sometimes such searches lead to updating the essence of the product or creating a new niche. Our priority is to find insights that will make the brand strong, unique and memorable. How we are working
Our approach involves flexibility in the choice of research methods, we look at the market in a broad context, analyzing its culture, as well as microeconomic, macroeconomic and regional features. What are we doing?
- We evaluate the volume and maturity level of the market, the number of players, competition tools, pricing and assortment strategies, brand architectures.
- We identify the reasons for the greatest efficiency of market strategies and individual brands of competitors.
- We evaluate the product or service of competitors from different angles: from the physical properties of the packaging to the service model and distribution plans. We reveal the base level, which is set by the market in a particular niche.
- We look for and analyze hidden, indirect competitors and find ways to reorient their customers to your product or service.
What is it for?
- Find the differentiating properties of a product or service.
- Check hypotheses for uniqueness in the further development of naming and corporate identity.
- Identify the value orientations that other players are promoting.
- Compile positioning maps - display the perception of potential customers of existing brands and products in relation to each other and identify free niches for positioning both the product and the brand.
Stages of work
Why is this step necessary?
- Desk research, collecting open information on competitors, studying all open data: advertising materials, websites, reviews, reports and social networks.
- Field studies of key market players, "mystery shopper" to evaluate the properties and test the quality of the product and the level of service, customer surveys.
- Analysis and structuring of information.
- Conclusions, insights, facts and hypotheses - everything that can be useful for creating a brand strategy.
We conduct competitive research to find the best way to build a customer's brand apart from other market players. Otherwise, we risk getting a company that will be similar to competitors both in meaning and external attributes: identity, colors and packaging.