With the globalization of markets, the way your products and services are positioned is a decisive factor for your success. Sustained growth depends on it. Observing and anticipating technological developments, exploiting multiple uses for your products, spotting your competitors’ best practices and those introduced in other fields…in the long term, if carried out regularly, these activities will lead you to develop a strategy guaranteeing top performance for your company.
Monitoring the competition means collecting, analyzing and using information about competitors in a given market. Before starting, we determine the skills and geographical implantation of the companies to be monitored. First of all, the competitor’s paper and web documentation is analyzed…and, without going as far as industrial espionage (an extreme form of competitive intelligence), every piece of useful information is extracted (that demands a great deal of professionalism and expertise in these days when communication and information are everywhere).
Benchmarking is more short-term and consists of evaluating how the competition is performing in a particular domain and at the time of the analysis, It means determining the quality of products and services, and also organization, methods and practices. The best examples can suggest new products or services for your company in line with your strategic goals. For both of these activities, Innovaxiom possesses the requisite skills and tools for collecting data worldwide, and analyzing and interpreting data in a scientific and industrial context.
For both competitive intelligence (continuous or ad hoc) and benchmarking, Innovaxiom starts from a detailed action plan: - definition of the market to be studied. - target competitor companies. - data collection from international sources (financial situation, partnerships and holdings, documentation, web, publications, social media, advertising, congresses and conferences, shows, events, competitions, patents, etc). - analysis of the data collected and comparison of the practices; recommendations to improve your company’s profitability and market position. - creation of an operational dashboard with planned actions and follow-up.
Your company is aware of direct and indirect competition on the market and how other companies are organised. Your company will then be able to establish a plan of action to effectively take the lead and anticipate the market. Our purpose is to allow your company to win a significant proportion of the market share and be innovative.