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News / Blog: #strategy

What is a market niche?

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.
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What is market positioning?

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.
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What is a social media manager?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A social media manager is a person who manages the social media marketing strategy of a company or brand. She is responsible for planning, coordinating and executing actions on social media platforms such as Facebook, Twitter, Instagram, YouTube and others to reach the target audience and promote the brand.
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What is a business consultancy?

12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A management consulting firm is a professional service that helps companies develop and implement strategies, processes, and technologies. Business consultants provide advice and support in the areas of strategy development, process management, organizational development, finance and accounting, marketing, human resources, information technology, corporate culture, and customer service. They work with executives, entrepreneurs, and investors to help companies strategically plan and implement goals.
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What is competitor / rival monitoring?

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.
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