12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A competitive advantage is a particular advantage that a company has over its competitors. It can relate to a variety of things, such as cost, quality, technology, innovation, price, or customer service. A competitive advantage can help a company capture a larger market share, build customer loyalty, and increase sales.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A business directory is a type of directory that classifies businesses and other organizations according to their industry. Such directories can be available both online and in print and can include individual company profiles, contact information, and other relevant information. Such directories can be an excellent resource for businesses seeking to learn more about their industry and their competitors.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A market niche is a small segment of a larger market that is tailored to a specific product or service. A company can focus on a market niche to meet specific customer needs that are not being met by other companies. It can also be a valuable strategy to protect a company from competitors.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Market positioning is a strategy used by companies to determine the position of their products compared to the products of their competitors. It involves analyzing the characteristics and position of the products compared to competitors and establishing a position in the market that focuses on unique values and characteristics that distinguish the product from others. The goal is to increase awareness and demand of the product among customers.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Weather competitor (also called competitor monitoring) is a concept in which companies monitor and compare the activities of their competitors and other affiliated industries to understand how they can improve their own location in the market. This strategy is often used to gain a better understanding of the current market situation and to evaluate a company's competitiveness relative to that of its competitors. Competitor monitoring can include tracking market trends, analyzing pricing strategies, identifying product developments, and more.