12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Market monitoring is a systematic process of collecting, analyzing and interpreting information about existing and potential customers as well as about competitors and the market in which they operate. The insights gained from this process can help companies make informed decisions about their strategies and products.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Competitor analysis is a method of strategic planning in which companies identify, evaluate, and compare the products, services, and strategies of their competitors. It is an important analysis method that helps companies identify the strengths and weaknesses of their competitors in order to be better prepared to face them.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Competitive analysis is a strategic tool that allows companies to monitor, understand and predict the competition in their market. It helps companies identify competitive advantages and strategies by evaluating their competitors in terms of products, prices, marketing strategies, financial strength, and other factors. This enables companies to make better decisions to achieve their strategic goals.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Social media monitoring is a process by which companies monitor content on social media platforms in order to monitor and manage the company's online reputation. This monitoring can be used to gather information about people's feelings and opinions, as well as to understand how well or poorly a particular product or brand is received overall. In addition, companies can use social media monitoring to get a feel for the competition by tracking how competitors portray their brands and products.
12/05/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
1. Make sure your products and services are high quality and innovative. Don't just be one of many providers, but offer something unique that sets you apart from the competition.
2. Be open to changes in the industry and drive them. If you can respond to new trends and technologies before your competitors do, you can establish yourself as an industry leader.
3. Create a strong brand. Invest in effective marketing to promote your company and products. Make sure your brand is unique and memorable.
4. Create a network of professionals and experts in your industry to demonstrate your expertise and competence as an industry leader.
5. Think about how you can support your customers by offering additional services to meet their needs.
6. Build a strong relationship with your customers. Always be available to know and understand their needs.
7. Initiate continuous improvement in your business to enhance your customer experience.
8. Develop a unique company culture that impacts employees. This will allow you to realize your vision and create a unique company culture.