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Market trend analysis is an analysis of past and current market behavior and dominant patterns of the market and consumers. An important aspect of conducting a trend analysis for an organization is to obtain insights into the market scenario, consumer preferences, and the macroeconomic environment.
SWOT analysis (or SWOT matrix) is a strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
This technique, which operates by ‘peeling back layers of the company’ is designed for use in the preliminary stages of decision-making processes and can be used as a tool for evaluation of the strategic position of organizations of many kinds. It is intended to specify the objectives of the business venture or project and identify the internal and external factors that are favorable and unfavorable to achieving those objectives.
Competitive analysis is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring, and adjustment.
Customer analysis (or customer profile) identifies target customers, ascertains the needs of these customers, and then specifies how the product satisfies these needs. It is a simple tool that can help business better understand current and potential customers, so they can increase sales and grow their business.