market&benchmark
analysis
Market & Benchmark analysis is a type of research that allows you to compare the current results of a given brand with other brands. The analysis is used to compare organizational practices with industry standards and introduce improvements and refinement of the organization’s practices and assumptions.
When analyzing the market and the activities/results of competitors, we check what our client’s closer and more distant competitors are doing. While looking for benchmarks we often go beyond the industry/market in which the client operates.
We do not believe that a product, service, or brand has no competition. Knowing what needs a product responds to, we check how users had dealt with it before the product offered by our client hit the market.
Market & Benchmark analysis can determine the success of a brand or product. We usually perform such an analysis when entering a new brand market or introducing a new product or service. It is also worth remembering that such an analysis is a process that should be cyclical. It is worth systematizing the comparative moment – depending on the dynamics of development and activities of the organization. Thanks to this, we can easily monitor our position in the market and plan appropriate actions.
Depending on the complexity of the brand, service or product: 1 week – several weeks.
… what yougain?
- finding features that will differentiate your brand in the market
- identifying the differences of given areas in a particular industry
- prioritizing the areas to work on in a particular organization or on a particular project
- assessment of the company’s position and role in the market
- assessment of strengths and weaknesses of products, services, own and competitive brands
- comparison of strategy and effectiveness of other brands
- inspiration
Market & Benchmark analysis can bring many benefits, it can help in acquiring new customers, working out coherent operating and development strategies. Thanks to it, the organization will learn about its weaknesses and strengths. It is a method that we recommend at every stage of the company’s formation and operation. Detailed analysis of the market and benchmarks allows for the development of the best strategy for business activities.
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