So you have been on the business course that talked about the theory of business strategy. Perhaps you’ve also taken the time to dive into some of the numerous books and articles which promise to make you and your business more competitive?

Now what?

Turning management theory into practice takes some doing. There is a big difference between attending a group workshop, reading a book, downloading many articles off the web and checking out YouTube videos. All this activity may be exciting and perhaps even beneficial to a point. However, the chances are that it is also random, ad-hoc and unstructured.

Successful businesses follow proven structured approaches to marketing, sales and strategy work. You can recognise this approach instantly – a documented process comprised of stages and steps which provide a clear path forward.

A structured approach is essential if you want to develop valuable insights into your competitive situation. Markets can quickly change, turning what may have seemed insignificant observation into insightful data that requires action.

To be successful in competitive markets you really require a system to manage the process. We have proven processes for both competitive and competitor analysis that we can adapt to your specific requirements.

For more information and a free and confidential chat with no obligation, please contact Adrian Hargreaves.

Competitor analysis is where you want to analyze your competitors at a business or corporate level — for example; you might be comparing the level of innovation at Adidas and Nike. 

Competitive analysis is where you analyze your competition at a product level — for example; you might be drilling down into comparing the functionality of the shoes.

Understanding what we are dealing with is essential when developing a strategy. We have to be prepared to do the necessary research. 

When communicating strategy, we need to avoid over-complication. So, rather than talk about ‘competition’ as one big subject, we need to be able to break it down into much smaller pieces depending on our audience. Creating separate competitor and competitive strategies can, therefore, help us enormously.