Competitor analysis and competition analysis are essential, especially for companies planning to export. These analyzes enable companies to plan and implement their international marketing strategies correctly. While performing these analyses, companies are managed by market analysts and consultants.
🔍 What is Market Analysis and How is it Done? Market analysis; It is the process of a company conducting detailed research on the needs, expectations and purchasing behavior of its current and potential customers. This process helps companies discover new market opportunities.
- 🌍 Overseas Market Analysis: Overseas market analysis examines a company’s foreign market conditions, sector dynamics and competitors. It is the process of analyzing companies. This analysis enables companies to evaluate the market share and competitive environment in different geographies, especially in Africa, Europe and the Gulf regions.
For example; An analysis to be conducted in Dubai allows the company to determine its potential, competitive conditions and foreign marketing strategies in this region.
- 📊 Sector Analysis: Sector analysis is a company’s examination of the trends, developments and competitive conditions in the sector in which it operates. Thanks to this analysis, companies can develop new market strategies and compete effectively with rival companies in the sector.
🌟 Consultancy and Research: Market analysis consultancy, providing information to companies in foreign trade, domestic market and new market finding processes, It helps with >research and consultancy. Expert analysts and consultants are important in having research done by companies in order to be managed more efficiently by those who do it.
🌐 Market Analysis in Africa and Turkey as an Example: When conducting market analysis in Africa, companies should focus on the cultures, consumer behaviors and needs of different countries in this region. In Turkey, companies can make competitive analysis by evaluating both domestic market and foreign market conditions.
🚀 Finding New Markets and Strategies: While developing new market finding strategies, companies should perform a detailed competitive analysis and rival company analysis. When developing a new business idea, the market share, products and services of existing competing companies should be examined in detail.
👉 Management and Information: During the market analysis process, companies must manage effectively, provide accurate information and constantly research< /strong> is required. Companies can consult expert analysts to provide consultancy and accurate information.
As a result, competitor company analysis and competition analysis are vital for companies to effectively continue their foreign marketing and foreign trade activities. These analyzes help companies find new market opportunities, understand industry dynamics and gain competitive advantage. At the same time, with these analyses, companies can achieve sustainable success by accurately evaluating the domestic market and foreign market conditions.
What is Competitor Analysis?
Competitor analysis is the process of examining a company’s current and potential competitors in the market. This analysis enables businesses to better understand their strategic positions, increase market share and gain competitive advantage.
🔍 Analysis Process :The competitive analysis process generally consists of several basic stages:
- 🌐 Competitor Selection: First, businesses determine direct and indirect competitors to be analyzed. Direct competitors are companies that offer similar products and services; Indirect competitors are companies that offer different solutions but meet the same needs.
- 💼 Information Collection: detailed information is collected about rival companies. This information includes company strategies, market shares, pricing policies, product/service quality, customer satisfaction and financial performance.
- 📊 Analysis: The collected information is analyzed. Here, SWOT analysis is frequently used as a tool to evaluate the strengths, weaknesses, opportunities and threats of competing companies.
📍 Important Areas: When performing a competitor company analysis, there are some critical areas that should be focused especially: • 🎯 Market Position: Positions of competitors in the market, market shares, target audiences and brand strengths should be analyzed.
• 🏆 Products and Services: The quality, diversity and uniqueness of products and services offered by competing companies should be evaluated.
• 💰 Pricing Strategies: Competitors’ pricing strategies, discounts and payment terms should be examined.
• 🔄 Marketing and Distribution Strategies: Competitors’ marketing and distribution strategies, advertising and promotional activities should be discussed.
• 🚀 Use of Innovation and Technology: Competing companies’ technological investments, innovative products and services should be examined.
🌟 Use of Results: The results of the competitor analysis are used in the strategic planning process of the business. This analysis provides in-depth information on the business’s own strategic goals, marketing strategies and product development activities.
• 🛠️ Strategy Development: Competitor analysis results help the business to develop its own strategies. For example, competitors’ weaknesses may create opportunities for the business; Its strengths can create threat
• 🎯 Goal Setting: Based on the analysis results, the business can review existing goals and set new goals.
As a result, competitor analysis helps businesses gain competitive advantage, better understand market dynamics and It is of critical importance for them to make the strategic changes necessary for sustainable success. This process strengthens the business’ position in the market, ensures exposure to new market opportunities, and supports its long-term success.
What is Competitive Analysis?
Competitive analysis is the process of a business evaluating its own performance and strategies by comparing them with the performance and strategies of rival companies in its industry. This process enables businesses to better understand market dynamics, consumer trends, and the strategic moves of rival companies.
📈 Analysis Process: Competitive analysis consists of certain stages:
- 🌐 Market and Sector Analysis: First of all, businesses need to understand the market and sector in which they operate. The market size, growth potential, trends and major players in the industry are examined.
- 🕵️ Competitor Selection and Profile Analysis: Direct and indirect competitors to be analyzed are determined and these competitors are n profiles are extracted. Competitor companies’ missions, visions, value propositions, customer segments and core capabilities are evaluated.
- 📊 Strategy and Performance Analysis: Competing companies’ strategies, marketing tactics, product portfolios, pricing models and general performances are analyzed.
📍 Areas to Focus on: • 📌 Product and Service Quality: Competitor companies’ product and service quality, customer satisfaction and brand image are examined.
• 💲 Pricing and Value Proposition: Competitors’ pricing strategies and the value proposition they offer are evaluated.
• 🔄 Marketing and Promotion Strategies: Competitors’ marketing and promotion strategies, advertising expenditures and promotions are examined.
• 🌿 Sustainability and Innovation: Competitors’ sustainability practices and innovative solutions are evaluated.
• 📈 Financial Performance: Financial performance, profit margins, revenue models and growth rates of competing companies are analyzed.
🌟 Making Strategic Decisions: Competition analysis results have a critical role in the strategic decision-making processes of businesses. In line with the analysis results, businesses; • 🎯 They Can Review Their Strategic Goals: Businesses can make adaptations by re-evaluating their current goals and strategies.
• 🔄 They Can Rearrange Their Marketing Strategies: Businesses can rearrange their own marketing strategies by examining the successful marketing strategies of their competitors.
• 🚀 They Can Make Innovation and Improvement: Businesses can make innovation and improvement in their products and services, based on the analysis results.
As a result,competitive analysis helps businesses strengthen their positions in the industry, evaluate market opportunities and gain a sustainable competitive advantage > It is an important strategic tool for them to create What is market analysis Our article may provide you with completely different ideas. This process allows businesses to shape their own strategic direction, respond proactively to competitors’ actions, and thus be successful in the long term.
Foreign Trade Intelligence and Analysis Methods
Foreign trade intelligence is a set of methods used to understand and evaluate a country’s commercial activities within the framework of international market conditions, consumer trends, competitive structure and developments in world trade. How to do market analysis. Foreign trade intelligence is critical for companies to develop more conscious and effective strategies in international markets.
- Market Analysis:
- Target Market Research: The demographic, economic, cultural and social characteristics of the target market to be exported are analyzed.
- Consumer Analysis : Consumer trends, demand levels and preferences in the target market are examined.
- Competition Analysis: Current and potential competitors in the target market and their strategies, products and pricing are analyzed in detail.
- Country Risk Analysis:
- The political, economic and commercial risks of the countries to which export is intended are evaluated.
- This analysis helps determine the risk level of investments and trade to be made by the company in the country.
- Product Analysis:
- The compliance of the product to be exported with international standards, regulations and the demands of the target market is examined.
- This analysis guides product adaptation and improvement efforts.
- Pricing Analysis:
- A pricing strategy is created by taking into account price levels of the target market, taxes, tariffs and other commercial conditions.
- Distribution Channels and Logistics Analysis:
- The most effective distribution channels in the target market are determined.
- Logistics and supply chain management are optimized.
- Legal and Regulatory Analysis:
- The legal and regulatory framework in the target market is examined.
- Export processes are managed and harmonized within this framework.
Use of Foreign Trade Intelligence:
By using the above analysis methods, companies better understand the difficulties they may encounter in foreign trade, manage risks and evaluate opportunities. Thanks to foreign trade intelligence and analysis methods, companies:
- Can gain competitive advantage.
- Can develop more conscious and effective trading strategies.
- Can make maximum use of market opportunities
- It can minimize risks in foreign markets.
Foreign trade intelligence is of critical importance for companies that want to achieve success in the global market. Effective analysis methods provide companies with the knowledge and understanding needed to achieve a strong and sustainable position in the international arena. In this way, companies can manage their decision-making processes in foreign trade in a more conscious and informed manner.
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What Questions Does Competitor and Competition Analysis Find Answers?
Competitor and Competition Analysis ensures that companies become aware of the market, their competitors and their own strategic positions. These analysis processes, companies’ foreign market and
🌐 Analysis Questions:
- 🌟 Market Status:
- What is the general situation of the market?
- As a result of the market analysisin which sectors is there growth potential?
- 🌟 Competitor Analysis:
- What is the market share of rival companies?
- Competition analysisshows which companies are leaders in the industry?
- What are the new market strategies of rival companies? Who is competing in
- Africa, Europe, Gulf regions and Dubai?
- 🌟 Sector Analysis:
- What is the general situation of the sector?
- What are the sectoral developments in Turkey and abroad?
- What are the new market opportunities in the sector?
- 🌟 Finding Customers:
- How should the processes of finding customers in the foreign market and finding customers in the domestic market be managed?
- What methods are used in B2B customer finding processes?
- 🌟 Obtaining Market Information:
- How should market intelligence acquisition processes be designed?
- What kind of information should the market analyst provide?
- What sources should be used to research and provide information?
- 🌟 Customer Data Analysis:
- How do customer database creation processes work?
- How should customer data be analyzed in terms of consulting and managing?
- Which techniques are effective in customer data discovery processes?
🌐 Implementation and Management:
- 🌟 Strategic Planning:
- How should the conditions of the new market be known and the export processes planned?
- What should be considered when getting market analysis consultancy?
- 🌟 Risk Management:
- How should risks be managed in foreign trade processes?
- How to minimize risks by doing research?
In this process, it is essential for companies to adopt a systematic and methodological approach in order to effectively manage competitor analysis and competitive analysis. How to do market analysis Companies looking for an answer to the question can evaluate domestic and foreign market conditions, customer expectations and industry trends in detail with analyst support. This evaluation can provide companies with a sustainable competitive advantage by allowing them to develop conscious strategies against their competitors.
Market analysis consultancy Our article can help you in many matters.
Analysis processes play a critical role in creating new market finding strategies, managing foreign trade and developing business ideas. Overseas market analysis and domestic market analysis help the company achieve a competitive position at global and local levels. Analyzes carried out especially in Africa, Europe, Gulf and Dubai show that different market dynamics It is of great importance for understanding and developing strategies for these markets.