The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face.
- Competitive Analysis
During a competitive analysis, we gather information about marketing channels, pricing packages, product features, brand positioning, and messaging of your primary competitors’ business—then look for weaknesses, insights, and opportunities you can capitalize on to outcompete those brands.
- Market Size
Understanding market size helps you distinguish between two categories: the addressable market, which is the total revenue opportunity for your product or service; and the available market, which is the portion of the addressable market for which you can realistically compete. By outlining the difference between these two, you can develop a product offering to gain that consumers spot.
- Market Structure
It refers to the characteristics of the market either organizational or competitive, that describes the nature of competition followed in the market.
- Strategic Marketing
The process of planning, developing and implementing maneuvers to obtain a competitive edge in your chosen niche. This process is necessary to outline and simplify a direct map of the company’s objectives and how to achieve them.