Market Quotient Introduces Their New Competitive Landscape Analysis Strategy

JERSEY CITY, N.J. - Jan. 26, 2022 - PRLog -- Sharique Nisar, the Founder of Market Quotient states, "You should be able to identify a few off the top of your head, or your client should be able to do so. However, these are usually well-known companies, and you'll only be able to identify them for a few reasons."

He adds that when doing a competitive landscape analysis, it is essential to go deep. Spend some time on Google, entering in your keywords, and making a list of the companies that come up.

Start your competitive landscape analysis with a list of about 10-20 names and divide them into three categories: direct competitors, secondary competitors, and tertiary competitors.

Abhijit Mitra, Cofounder adds, "Once you've compiled a list of rivals, you can begin assessing their work. Examine their website, social media, and physical store as well as their products, service, imagery, pricing, blogs, and more."

Take note of the information and messaging you come across along the journey, from online customer service responses to subscription mailings. Look for the areas that you enjoy the most and draw inspiration from them. (https://www.marketquotient.com/competitive-intelligence/)

Once you've determined where you need to keep an eye on them in the competitive landscape analysis strategy, it's time to sketch out their whole marketing approach. With this knowledge, you'll be able to learn from your competitors' best practices and figure out how your own strategies will fit into the bigger picture.

You may learn where you fit in best, where there are gaps you can fill, and what you need to do to be as excellent as — or better or faster than — those around you by figuring out where your competitors put their attention.

The customer's decision will always be influenced by price. However, pricing affects your customers' opinion of your brand, so it's not just about making goods as cheap as possible to undercut the competition. (https://www.marketquotient.com/)