Identify your market potential early on with competitive market analysis
In the course of a competitive market analysis, your target market in Germany or abroad is methodically examined at a certain point in time. Senergia also takes the online market activities into account. This creates a transparency of the market conditions at the time of the market analysis, which greatly facilitates the decision-making regarding the marketing strategy.
A competitive market analysis is an essential part of information acquisition. It represents a sub-area of market research and provides insights into the current state of supply and demand. It describes the market structure, identifies possible target groups, their needs and accessibility, illuminates barriers to entry for example from a cultural and legal point of view, provides information about competitors, their number, prices as well as communication channels, sales chains or sales channels on the target market and provides information on trends, environmental developments and possible distribution channels.
This information is mainly collected, checked, compared, summarized and ultimately made available in a structured manner as part of a so-called secondary research via public and official sources. In order to sharpen the data and information obtained, so-called primary research can also be carried out, which consists of interviewing experts and market players.
- Illuminate the needs of the target market
- Identify opportunities and risks
- Uncover strengths and weaknesses
- Identify differentiators and competitive advantages
- Perform segmentation
- Determine prices and earnings conditions on the target market
- Explore market potential and market exchange creation
- Facilitate decision making
- Determine strategic and operational goals
- Plan the marketing mix
- Define activities, if necessary successfully involve local partners
- Develop intercultural market competence
The market information is obtained on behalf of the Senergia company, so that you do not have to appear as a customer.
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