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Researching a Competitive Market Analysis
Learn about the methodologies, key performance indicators, comparison models, and competitive evaluation frameworks that comprise the competitive intelligence gathering process.Preview the first lesson free — get full access to all 6 lessons.
Advanced Provider : Aileen Smith 6 Lessons · 20m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
No matter what product or service a business organization offers, it will always be in competition with other suppliers. Understanding the competitive forces that influence the success of any business organization is critical to developing effective business strategies that address gaps in performance, product offerings and services. There are various ways in which this information can be obtained and analyzed.
In this course, we will explore the many tools and methods available for competitive intelligence gathering and competitive market analysis. You will learn how to identify and evaluate a company’s internal strengths and weaknesses, external opportunities and threats, and the importance of identifying competitive strategies. You will also learn how to evaluate your organization’s position in the competitive environment and explore the use of metrics in tracking performance. Lastly, we’ll also discuss how to go about identifying your competitor’s strategies and how to evaluate your organization’s own competitive positioning in your industry.
What You'll Learn
- Use a variety of tools and methods to gather and analyze competitive intelligence data
- Recognize and identify different competitor strategies
- Identify competitors' strengths and weaknesses
- Associate Key Performance Indicators with Key Performance Drivers
- Evaluate your organization's position in the competitive landscape
- Apply metrics to track competitive performance and positioning
Key Takeaways
- Every business organization competes with other suppliers, so understanding competitive forces is critical to developing effective business strategies.
- Competitive intelligence data can be gathered and analyzed using a variety of tools and methods.
- Effective analysis involves identifying a company's internal strengths and weaknesses alongside external opportunities and threats.
- Metrics, including Key Performance Indicators tied to Key Performance Drivers, help track competitive performance.
- Identifying competitor strategies supports evaluating your own organization's competitive positioning within your industry.
Frequently Asked Questions
What will I learn in this course?
You will explore tools and methods for competitive intelligence gathering and competitive market analysis, including how to identify a company's internal strengths and weaknesses and external opportunities and threats, recognize competitor strategies, use metrics to track performance, and evaluate your organization's position in the competitive environment.
What topics or lessons does this course cover?
The course includes lessons on Competitive Intelligence Tools, Understanding Competitor's Strengths & Weaknesses, Identifying Competitor Strategies, and Evaluating Your Position, along with an Introduction and a Test Your Knowledge section.
What skills will I gain from this course?
The course develops skills in Business Analysis, Competitive Analysis, Competitive Intelligence, Market Analysis, Market Intelligence, and Strategic Analysis.
Who is this course for?
It is suited to anyone seeking to understand the competitive forces influencing a business and to develop strategies that address gaps in performance, product offerings, and services.
