Competitive Research, or Market Intelligence, is more than just the process of evaluating business rivals and making competitive assessments. It entails looking at your current competitors and evaluating where new competitors might arise in the future. The results of competitive research support major corporate decisions on everything from brand positioning to product extension.
In the process of conducting competitive research, we evaluate a wide variety of topics customized to your particular needs. In general, these topics include:
- Identifying major competitors and their:
- Market share
- Key positioning
- Target audience
- Primary products and services
- Key messaging
- Global reach
- Brand perception from target audience
- Identifying tangential competitors
- Related industry players with potential to enter the market
- The strengths they might bring to the competitive field
- The obstacles they would need to overcome to enter the field
We use a variety of tools to gather competitive research data, including an online audit, one-to-one interviews with targeted audiences, and secondary market databases. Ideally, competitive research is paired with a full market analysis (link) to uncover market trends that might affect future competition.