1 / 10

Competitive Analysis For Business Planning And Strategy - Aranca

The business world is evolving constantly. Competition analysis helps in creating a tactical blueprint to enable the business to proceed in the desired direction. It can help companies in identifying and adopting the best practices of their competitors while avoiding the mistakes made by them<br><br>https://www.slideshare.net/ArsalanKazi2/competitive-analysis-for-business-planning-and-strategy-aranca

jackmethyu
Download Presentation

Competitive Analysis For Business Planning And Strategy - Aranca

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Competitive Analysis For Business Planning And Strategy Aranca.com

  2. Overview Competitive analysis is a critical process that every business must undertake to gain a sustainable advantage. A view of the competitive landscape allows a business to benchmark its performance vis-à-vis that of key competitors, identify emerging opportunities in the market, and do contingency planning for any potential threats. Therefore, it is one of the main processes for obtaining information for designing the business plan and strategy.

  3. Competitive Analysis Can Give More Information Like: • Market Opportunity • Product Development • Market Position • Customer Preference • Business Plan

  4. Understanding All The Point In Details

  5. Market Opportunity Through competitive landscape analysis, a business can identify gaps in the market and explore the possibilities to plug these. The gap can either be the unmet needs of the target customers or new geographic markets that have potential. Exploring new opportunities should be a part of every business’ long-term plans.

  6. Product Development Understanding the competitive landscape can help identify innovations and inventions currently underway or being developed by competitors. It can even help identify new, emerging business models (for example, SaaS/subscription-based services in the IT industry), and enable businesses to prepare for inevitable changes in the marketplace.

  7. Competition analysis can help identify market leaders and ascertain the reasons for their success. Businesses can, therefore, understand their position in the market and where they want to be. Accordingly, they can plan and take strategic decisions to reach the desired position. 2020 20 5 15 2021 29 4 25 2022 39 4 35 2023 27 5 22 Market Position

  8. Customer Preference Competitive landscape analysis is a highly effective process to understand what the customer wants. If the customer displays brand loyalty for the competitor’s product, a company can determine the reasons for the same and accordingly make modifications in its processes. The customer’s brand loyalty could be due to any of the following reasons, such as product features, packaging, marketing or distribution channels, giving the business a chance to plan its own changes. Competition analysis can also help ascertain why a new launch by a competitor is successful.

  9. Business Plans Competitive landscape analysis can provide insights on industry shifts, market trends and customer behavior, helping a company to understand the external environment. Based on this, a navigation plan can be prepared.

  10. THANK YOU

More Related