Competitive Product Analysis Denver Colorado USA

Competitive Product Analysis is defined as the identification of your business competitors and their strategies to evaluate their inherent strengths and weaknesses in relation to those of your products and services.

Wonders of Automation
Monitoring competitors requires a lot of time like visiting their websites to get up to date information on changes in their organization and product. You may arrange to get the press releases of your competitor for tracking the direction of their approach. By securing the latest information about your competitor’s moves and plans, you can formulate your strategies to counter them professionally.

Pieces in the Puzzle
Your will be able to gather information only in bits and pieces. You need highly professional analytical skills, to visualize the broader picture behind the bits and pieces of information gathered by you. Write down your analysis, however minor it may be so that everyone can benefit from it. Probe about the details where your potential competitor is dumping the products. The marketing chief may collect all the sales information from strategic market clusters such as advertisements, product range, credit limits, discount sales, and customer guidance programs of the competitors. These details collected can be reorganized and interpreted to arrive at the orientation and direction of your competitor’s marketing strategy.

Planning for future moves
A potential competitor might have moved into your marketing domain, competing directly with you in your core business activities. You have to draw useful information from the press release of your competitor on a new product launch. There may not be any immediate threat to your product market. Collect maximum possible details about the new product that is going to be launched such as its features application, price, etc. Compile all the details received from press releases, sale representatives, customers and dealers and compile the data. The data compiled can be passed over to your product development group to design and develop a suitable product with increased value addition to the customer.

Competitive Product Analysis process described above will guarantee the marketability of your product in the coming years of ruthless competition.

Rocky Mountain Laboratories, Inc. is a fully service Chemical Laboratory based out of Denver Co, they also offer Electron Spectroscopy for Chemical Analysis