Post by account_disabled on Mar 10, 2024 3:27:52 GMT
Virtually no company has the ability to offer a product or service without competitors. No matter how innovative or little exploited a product or service may be, it is healthier for a company's prospects for success to assume, from the first moment, that there will always be other companies with a greater capacity to connect with the needs and trends of the market, and to attract the attention and money of buyers: by having more experience in the field, or by having exclusive agreements with key suppliers, knowing the legal environment and how it works, etc.
Luckily, it is not too difficult to obtain useful information and data on this topic: to begin with, it is typical for both suppliers and clients to track markets with possibilities for a company, and the competitors that already exist in it: the first They can provide information about their clients, and the latter about their suppliers, in addition to the reasons that have led them to choose another option. Other useful data that can be discovered in this way: how long they have been with the supplier or client, or what type of products or services are the most requested.
Attendance at Ecuador Mobile Number List international fairs and other professional events is also essential for this phase of market research: it is difficult to find occasions in which participants are more willing to provide information about their respective companies, and their sales in various foreign markets, in addition to be able to take note of their visitors: how many they are, what they are like, what they are looking for, and what the treatment and initial impression they give to potential clients in person is like.
On the other hand, competitors may enjoy favorable circumstances, a dominant position, or be experiencing difficulties in these same markets, due to market saturation or for other reasons; In these cases, this information can be found in studies, publications by sector analysts, and news from associations, chambers of commerce and local unions.
In addition to the information provided by the companies themselves on their website, social networks also offer an accessible and economical way to find out the opinions of competitors' customers, and the strengths and weaknesses that buyers see in the company. Even the offers Job titles published by competing companies can give clues about new projects and plans in development, depending on the skills and talents they are looking for. A variety of free and paid online tools and services are also available to analyze customer behavior and interaction with different companies, as well as explore and evaluate data in relevant sectors (logistics, transportation, etc.)
It is rarely possible or profitable to employ the same competitive strategy in different markets: it is necessary to identify and satisfy specific demands of a market, and customize the company's offer based on local preferences and existing conditions. Therefore, in addition to the quality and price of your own offer compared to competitors, it is important to check:
The distribution and delivery systems used
After-sales services and customer loyalty methods
Innovation
The main managers or owners of the company
Marketing activities and their level of success in attracting customers.
Location of production company facilities, distribution centers and customer service points
to discover areas of advantage of competitors, or strengths from which it is possible to learn and improve; things that they do the same as the company itself or others in the sector, and those aspects in which they are inferior and deficient that allow them to obtain a competitive advantage, or serve to explore the possibility of collaboration, in order to join forces to open a new market. jointly.
