Know your market position with a competitive analysis
A general competitive analysis reveals all strategies and measure that determine a market’s competition. However, the main focus lies on the analysis of the competitors and the determination of their products and partners.
With knowledge about the competitors’ market activities, their negotiating power becomes apparent. Additionally, future business relations for your company will be improved with this valuable information on your competitors.
Challenges of the competitor analysis
The first challenge of a competitor analysis is determining who the competitors are. Although direct and indirect competitors are mostly known, there are always hidden competitors active on the market.
Even if all competitors are known, their trading partners usually remain unknown. Especially this lack of knowledge comes with a risk when competitors sell to your customers or you share suppliers. If competitors succeed in concluding exclusive contracts with these trading partners, your company is threatened by immense market losses.
Furthermore, not only the players in the markets are important - also their activities are crucial information. Analyzing a competitor’s behavior in the market is not only time-consuming, but becomes nearly impossible without trade data.
Innovative competitive analysis with ABRAMS world trade wiki
The processed trade data from ABRAMS world trade wiki offers valuable insights through comprehensive and also time-saving analyses. With the data of ABRAMS.wiki, unique trade data-supported competitive analyses are possible, which record competitors, their products and activities, as well as disclose their trade relations.
The decisive factor is that these analyses not only cover players who were previously completely unknown to the own company, but also reveal and monitor their activities. This enables future-oriented competitive analyses, as global and potential competitors can be detected at an early stage.
Several interlinked tools quickly and easily enable competitive analyses from different starting points. For example, you can start with a product-side analysis and then identify the competitors for those products and evaluate their market activities. Similarly, such an analysis can also be done for the company side to identify trading partners and products.
Trade data-supported competitive analyses with ABRAMS world trade wiki make it possible to discover previously unknown competitors, expand your company’s negotiating power and strengthen your position in the market with strategic knowledge.
By providing maximum transparency, ABRAMS world trade wiki makes a valuable contribution, showing decision-makers the basis for significantly improved profitability, while optimizing sustainability.