Research concerning our own company alone may often be incomplete if it is not backed by a market environment analysis. In-depth knowledge regarding market position against competitors is the basis of effective development as it increases our chances of making proper strategic decisions.
It is recommended to monitor competitors’ activities on the market on an ongoing basis. Thanks to a professional analysis, we can help efficiently fit into market forecasts and trends. The competition survey is an exit point in the case of drawing up a business plan, entering a new industry, segmenting customers, or launching new products.
In ABR SESTA, we use point of sale audits to provide information about market rivals by monitoring product prices and availability, verifying the quality of displays and shelf shares, as well as analysing the promotional strategy. The mystery shopper method is the most useful when we wish to verify the quality of the competitors’ service, learn about its weaknesses and strengths, verify applied procedures, and discover useful patterns.
Market and competition surveys are also carried on by means of consumer interviews and desk research, which involves processing secondary data when we need to compare the efficiency of marketing activities or brand image against that of competitors.