A well-known customer intelligence company, Infiniti Research, has announced the completion of their latest article on how competitor analysis framework helps businesses. The article gives a comprehensive overview of how competitor analysis is undertaken, the benefits of a competitor analysis framework, and how it helps businesses expand their customer reach.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190201005195/en/
How competitor analysis helps expand consumer reach
Competition is a part and parcel of business, however, their impact on business can be reduced if not completely mitigated by leveraging an effective competitor analysis framework. Furthermore, the rising market competition is laying pressure on companies to make their products or services unique when compared to their peers in the market. With the ever-changing market landscape and customer needs, companies often find it difficult to stay on par with the latest trends and competitor strategies. Competitor analysis solutions help overcome such challenges.
Systematically engaging in competitive analysis enables companies to track trends and better adapt to competition. Get in touch with our experts to know more about how our competitive intelligence solutions can help your business.
How competitor analysis helps expand consumer reach:
Identify up-selling and cross-selling opportunities
In an extremely competitive market cross-selling is one of the best strategies to win the price war. Suppliers can pair their products for greater convenience in the form of up-selling. Competitor research helps identify market opportunities and build a competitive strategy to cross and up-sell the company's products/services.
Keeping track of the competitors help businesses differentiate themselves and stay ahead of the market competition. This becomes easier with an experienced competitor analysis partner. Gain more insights into our service portfolio. Request a free proposal
Encourage brand loyalty
Competitor analysis framework helps build strong relationships with the customers. Companies can analyze what the competitors are offering and what are the points where the company can improve its performance. This allows them to offer more than their competitors and promotes repeat purchases.
Adjust prices
If a supplier is offering cheaper goods elsewhere, there are greater chances of customers moving towards those offerings. So, without the right competitor analysis frameworks to help assess the buying behavior of customers, the company's response time will become slow, making their chances of losing out on loyal customers high.
Request for more information and know how we can help you create robust competitor analysis strategies that will give you a first-mover advantage in the market.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us
View source version on businesswire.com: https://www.businesswire.com/news/home/20190201005195/en/
Contacts:
Press Contact
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
