Competitive market research as a trend barometer for your company

January 2016

Competitive market researchIs it usually your competitors who hold the top ranks when it comes to recognizing the latest competitive trends? Is your company always a little late? The reason for this could be a lack of specific knowledge about your competitors and their behavior. Competitive market research could change this since it closely examines the behavior of your competitors and drawing on this provides predictions regarding their future behavior.

Of course you can conduct competitive market research in-house. It would be far more efficient, however, to outsource them to a professional market research company like Market Researchers. In this case you would not have to specially train your staff and they would be available for other tasks within your company. The costs for outsourcing will thus amortize quickly.

But still many companies take a critical stance when it comes to competitive market research. The mistrust towards market research companies who employ unethical methods or dubious techniques in order to acquire competitive insights is too deep-seated. With Market Researchers you can set these doubts aside. The research team at Market Researchers uses only legitimate methods und follows a highly customized and creative approach when conducting competitive market research, which is supplemented by intensive data analysis.

Which elements and methods does competitive market research conducted by Market Researchers include? The individual approach followed by Market Researchers provides your company with customized competitive market research which contains among others analyses of available competitive information such as analyst reports or published strategy papers. Apart from that Market Researchers also conducts interviews with competitors and clients of competitors. But according to the client's specifications benchmarking can also be part of competitive market research.

The goal of competitive market research can be named as the analysis and precise identification of the behavior of the other market participants. In this way clients are guaranteed a competitive advantage over their rivals. In order to achieve this it is recommended to concentrate on answering specific questions like how your products and services differ from the offerings of your competitors or which of your products or services are threatened most by competitive attack. Market Researchers discusses with you beforehand which of these topics are the most important ones for your company.