A new competitor in your town

This article is called a new competitor in your town. And discusses what to do when a stranger comes to town.

A new player has overnight entered your turf and is creating noise in the market place. People like what they hear and your clients could be persuaded to have a look at their offering. This new player could be a start-up company. A merger, joint venture partnership or a new office of a major national. Whatever the new competition’s size, you need to learn. Learn how their presence will affect your operation. Never be complacent.

Beyond the noise

You need to get beyond the noise, rumour and hype and gain Intelligence. Understand their immediate and long term goals. The reasons why have they entered your market. Assuming they see you as a threat, what weaknesses can they see in your offering? And how do they intend to integrate their business into your market?

Can they compete?

You need to understand their ability to compete financially. And stick at it when the going gets tough. Who is backing them? Someone with a prudent business mind? Or a local millionaire who can throw money at the project as they can not be seen to fail?

How are they positioning themselves in the market, and how are they going to target your clients? What are their strengths and weaknesses, and what are their technological capabilities? Who are the key players in the business? Profile them, understand who much control they have in the day to day running of the operation. Where did they come from, and what did they do in their last business? Attempt to assess their values and culture.

Compare to yours

You need to look at their products and services and attempt to compare them to your own. Do they have any weaknesses in their offering, or are they more appealing than yours? Are they just copying what you do, or are they new features which could damage you?

This article was called a new competitor in your town. And discussed what to do when a stranger comes to town.

About Octopus Intelligence

When you need to win more business, when you need greater certainty when investing and making important decisions, and when you just need to beat your competitors, we answer the questions when you just need to know.

We understand we live in an increasingly uncertain, competitive and ever-shifting world. And what you need is an active real-world business development strategy.

The UK based Competitive Analysis consultants with a global client base. Offering Competitive intelligence-based growth-focused actions. To answer the what and the how for the now and the next.

So we help you beat competitors, increase sales, be disruptive, enter new markets and invest with more certainty. As Competitor Analysis and Market Intelligence consultants, we offer Strategic Intelligence. Competitive Intelligence and background checking.

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