Market analysis and profiling
Competitor Value Chain Analysis
So, using our proven Competitive Intelligence skills, combined with more standard market research techniques, we will give you a much clearer understanding of your current market, as well as, its future potential.
We dig deep into your competitors minds
To build a profile of their characteristics and behaviour. Needless to say, this service not only encompasses revealing the basics of their personality, but also digs deeper into their mind-set. So to help you predict their future actions. And, that’s Competitor Profiling.
Octopus can help you profile your potential customers too.
This is a very powerful tool. So, imagine going into a big meeting knowing everything you can know about the company and how they operate. And, how impressive will you look, and how much closer to winning a deal?
Competitor profiling is not just about companies. It can be about countries too. Like this website shows.
Competitor Value Chain Analysis.
It is a process of analysing your operational chain and starting with your raw materials/customer attraction through to finished goods/services and your customer service processes.
Isolate the significant activities in your value chain,
For example, you can include inbound and outbound logistics, as well as, sales and operational activities. It is a great way to assess your efficiency and effectiveness and allows you to find ways to reduce costs, as well as, improve product quality, customer attraction and service.
Then, looking at the primary chain detailed above, you can develop the Value Chain to create a potent tool to analyse your competitors. As follows:
Customer needs (Inbound logistics)
How do your competitors understand what their customers need? Also, are they looking at their customers’ future needs? Do they meet their potential customers? And, where and how do they buy their raw materials? Finally how often do they receive deliveries, etc.?
Product/Service Development (Operations)
- How does your competitor build their potential products/services?
- And how do they create prototypes?
- How do they test their product/service before they try and sell it? Just how good is their service/product?
Delivery (Outbound logistics)
How does your competitor deliver and install their product? How do they provide their service? Are their customers happy?
Sales and Marketing
How do they sell their products/services? What do they say and how do they market it to customers?
How do they provide customer service? Are they delivering excellent service?
Clearly, you will need to understand your competitors, and this may be a great way to get into Competitive Intelligence.
We expect that you will learn so much from Competitor Value Chain Analysis, find out things you didn’t know about them, copy (and enhance) their strengths, take advantage of their weaknesses and can use it to create competitive advantage.