Traditionally, suppliers have tended to rely on product, service or price superiority to grow or defend markets. This has become progressively more difficult to do as product and service features have tended to converge making it difficult to maintain a level of true differentiation between suppliers. In order to compete it is essential not only to understand competitors but also to understand their resources, strategies, strengths and weaknesses.
Obtaining accurate intelligence on competitors will enable you to better understand your market positioning and exploit any product/service gaps in the market — leading to an improvement in business performance.
Business Advantage offers a full range of Competitor Intelligence research services over and above basic desk research. We work closely with our clients and typically build on their existing in house knowledge. We carry out major multi-country in-depth studies, competitor screening, regularly monitoring of competitors and tailored/custom research so that individual items of information on competitors can be obtained.
Our rare blend of research, market and industry knowledge matched by our extensive experience in consulting and business management in high technology companies, has enabled us to develop and refine a full range of Competitor Intelligence services for our clients.
1. Competitor Intelligence Service Areas
The different strands of our competitor intelligence service are summarised below:
Technical/Strategic Competitive Product Comparison.
The purpose of this research is to provide a competitive tool such as a Sales Guide, where client products e.g. software/applications are compared in detail to competing solutions.
Product comparisons studies typically involve two stages. Initially we will compare the features and functionality of competitor products to those of the client’s competing solution. A detailed technical comparison based on the client’s specifications is provided. Both competitor and client product strengths and weaknesses are clearly identified.
Stage two, which can be carried out concurrently, involves an overview of competitors’ go to market strategy including; sales tactics, pricing, positioning, channel strategy, strategic partnerships and company product strengths and weaknesses.
The client is provided with a report on each competing product when compared to the client’s solution and a series of “kill points” are identified to be used by the client’s sales force. This type of research has been successfully used to counter the perceived benefits of competitors’ products with potential customers in order to improve the win rate of bids for some of the largest IT companies in the world.
Competitor Identification/Screening Service.
Where we find new or emerging competitors and create a short-form profile of the companies - this is especially useful in new or fast moving markets and can be carried out once or twice a year to identify new market entrants. This type of research has proved useful to key clients who need to maintain visibility of new market entrants but do not have the internal resources to monitor the market.
Competitor Monitoring Service.
This is typically customised to the precise needs of the client and can cover whatever topics are deemed to be most important. This service can be carried out at regular intervals - monthly, bi-monthly or quarterly. Business Advantage will track competitor activity; via regular monitoring we can provide an early warning system for competitive new product development, change in strategic direction, key personnel changes, won and lost bids and mergers and acquisitions etc.
Lost Bids Analysis.
This provides information on why a client lost one, or more frequently, a number of specific bids. We analyse the strengths and weaknesses of competitors as perceived by their customers. This type of research can include a review of competitors’ product features, ease of product use, quality, pricing, positioning and customers’ preferred mode of purchase. We provide a detailed breakdown of the areas our client needs to address in order to compete more effectively in the future.
In-depth Competitor Analysis.
This type of research is customised to a client's precise needs. Business Advantage researchers adopt a comprehensive approach to competitor analysis. Extensive primary and secondary research is carried out, using many different information sources.
Information regarding the competitors is selected based on client requirements and may include:
- Company Overview
- Company Strategy and Structure
- Financial and Operating Analysis
- Marketing strategy
- Market Perceptions
- Other Issues
- Analysis of Strengths and Weaknesses
- Future Directions
Competitor Customer Satisfaction.
With this type of research we identify what is important to a competitor's customers and then ask them to evaluate their supplier. We cover topics such as; would they buy from this company again, why/why not, what would they like to see improved in the competitor's products/services. This type of research provides our clients with both market intelligence and specific knowledge of existing opportunities to win competitor’s customers. Clients are provided with clear guidelines for service provision and specific areas to focus on internally in order to increase market share and customer satisfaction.
Tailored/Custom Research.
This gains specific information on any part of a competitor's operations including pricing, technical specifications etc, is often used in support of a particular bid or sales campaign and can greatly assist a company in their sales activities. We can find out information related to the competitive bid - products, pricing, support, key personnel etc.
We have been able to assist many of our clients to gain a significant advantage in the market through Competitor Analysis. Leading organisations such as IBM, SAP, Sony, LGP/Allgon, SmartTrust, Autodesk, StorageTek, Avitec, Oracle, HP, Ricoh and BT (British Telecom) have benefited from using our competitor intelligence services.
2. Project References
a) Technical/Strategic Competitive Product Comparison
Global Competitor Analysis, Asset Management Solutions
Competitor analysis study comparing five competing asset management solutions for one of the world’s largest IT companies. The scope of this project was global covering Europe, North America and APAC. In addition to product specific intelligence i.e. features, limitations, strengths and weaknesses, intelligence was also gathered on the overall go to market approach including channel strategy, price positioning, support, regional variations and many other issues.
From the data gathered competitive sales guides were created comparing the client’s product to five key competitors and their respective Asset Management solutions. Included in the guides were ‘kill points’ to support the sales organization in bid situations.
Competitor Analysis, Utility Computing Solutions Market
One of the world’s largest IT companies wanted to gather intelligence on four competing products in the Utility Computing Solutions space. Competitor analysis was carried out in North America, Europe and APAC to understand the competitors’ go to market strategy providing details of sales tactics, pricing, regional variations and future product development . In addition Business Advantage provided a feature by feature product comparison. This information was used to provide a competitive sales tool in order to further improve this market leader’s business performance.
b) Channel Strategy
Competitor Analysis of Key Players in the Storage Solutions Market
As part of a larger market study for a leading player in the Storage solutions market we carried out a competitor analysis to gain a penetrative insight into the activities of 8 key competitors. Areas we gathered intelligence on included the channel strategy/structure, price positioning, product development, communications strategy, sales and distribution strategies.
The findings and recommendations provided to this client enabled them to reposition their offering and compete more effectively in the market.
c) In depth Competitor Analysis
Understanding and Monitoring Activities of 10 Key Competitors
This project involved gathering intelligence in specific areas on 10 direct competitors. The project was carried out in North America, Europe and Asia. Intelligence was obtained on financials (quarterly/yearly results plus analysis), major contracts gained, markets entered into, collaborative agreements signed, acquisitions and mergers, pricing initiatives, product launches and development and pricing.
The results provided our client with a good understanding of their competitors and the strategies they were adopting. Following on from this project a quarterly screening exercise was provided to update the information gained previously. Our client was able to react to impending threats quickly and maintain a competitive edge in the market.
Sales Structure — Competitor Analysis
This research study examined how four of a company’s major competitors structure their sales forces in the context of their ‘go-to-market’ strategy. The scope of work embraced the UK, France and Germany.
d) Customer Satisfaction
Support Contracts for Enterprise Solutions
Combination of competitor analysis and competitor customer satisfaction looking at issues relating to the support and warranty contracts. This was a global project and involved interviewing vendors, the channel and end users of competitive solutions. The project looked at all elements of support including telephone, on-site, repair, web etc.
Worldwide Service Offering Benchmarking Study
This project was carried out for one of the world’s leading collaborative e-business solutions providers.
The objective was to understand how the support offerings of our client and five of its main competitors are structured and received by the market.
e) Tailored/Custom Competitor Analysis
Fixed Internet Access Price Benchmarking Study
This project investigated prices charged by seven direct competitors in the fixed Internet access market and benchmarked this against our client's own prices. Other areas examined included terms and conditions, service level agreements and lead times.
The project enabled our client to better understand their competitors' pricing strategies enabling them to win business while not bidding significantly under the competition.
Competitor Analysis — Laser Printers
Covering Germany, France, UK, Spain, Italy and Russia, this study analysed the overall marketing strategies of four laser printer competitors.
f) Competitor Identification
Understanding Threat Levels of Competitors in a Separate Strategic Group
For one of the world’s largest IT companies, Business Advantage carried out a competitor analysis on 35 SME's deemed as threats in a vital product segment in Europe, Latin America and North America.
g) Competitor Monitoring
Competitor analysis carried out for a leading provider of Ethernet PDH Microwave Links in many regions throughout the world. The client desired to develop a better understanding of some major market regions and countries and commissioned Business Advantage’s qualified personnel.
h) Lost Bids Analysis
High Value Contract Lost Bid Analysis
An international Swedish manufacturer of digital repeaters put in a bid for a large nationwide TETRA system rollout contract tendered by the British Transport Police. Having been short-listed as one of two finalists, the company felt it was well placed to win the bid but subsequently lost to a key competitor.
Although initial feedback was provided, the Swedish manufacturer felt that a better understanding of the reasons behind the decision would enable them to be more successful in another upcoming bidding process with the British Transport Police
Business Advantage was commissioned to conduct a piece of valuable research to gain as full an understanding as possible of the reasons why this particular contract was awarded to a competitor.
Two Stage Pan European Lost Bid Analysis Project
This project was successfully completed for the one of world’s largest software companies.
The objectives of this project included:
- Gaining an accurate understanding of how the client’s CRM solution was positioned with decision makers and key influencers amongst both their customer base and competitors’ customer base
- Gaining a good understanding of respective strengths and weaknesses
- Providing the client with a better understanding of their competition and thus enabling them to compete more effectively
Since 1992 Business Advantage’s team of specialist researchers have undertaken Competitor Analysis research projects on a worldwide basis. Our combination of in depth industry knowledge and B2B research expertise enables us to gather the accurate and actionable information you need to gain and maintain competitive advantage. Our expert analysts are highly experienced at obtaining sensitive information where others may fail, and our determination and resourcefulness enables us to achieve outstanding results while remaining professional at all times. Our methods of collecting such data are conducted under the Code of Professional Standards and Ethics of the Institute of Marketing.
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