There is a misconception that some types of conflict have no impact on business.
Implicit competition
For better clarity, this type of confrontation should be considered with an example. For any ignorant person, household appliances and jewelry stores are not connected in any way. But on the eve of the New Year holidays, when everyone is buying gifts, they begin to compete with each other for customers. In this situation, the choice remains with the consumer, who has a certain amount of money that can be spent on new equipment or jewelry.
Potential rivalry
Identifying and analyzing potential competitors in business is a necessary and very complex process. This type of confrontation is a heterogeneous phenomenon that is difficult to structure. For example, companies planning to enter the same market with the same products develop more advanced software than that released by the given company.
Product competition
The peculiarity of such paytm database confrontation is that it can at some point develop into cooperation. Rivalry at the product level is considered the most harmless, since different companies produce similar products, but aimed at different audiences.
For example, the production of decorative cosmetics for everyday needs and the manufacture of professional cosmetics.
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Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
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Why Conduct Competitive Analysis
There are several reasons why it is necessary to conduct an analysis of the main competitors.
Make a decision to start a business
In this case, using analysis, you can find out how crowded the market is with competitors and whether it is worth entering it with a new product. If it turns out that there are no competitors in this niche, then you need to think about why no one has occupied it yet. When there are enough competitors in the business, then you can only claim a small share of the market. A newcomer will have to put in a lot of effort and resources to attract the attention of consumers who have previously used the products or services of similar companies.
Despite the intense competition and the distributed market, it is possible that new leading products will emerge. For example, when Google Chrome entered the market, Internet Explorer had a 60% share. Ten years later, the new browser has 70%.
Case: VT-metall
Find out how we reduced the cost of attracting an application by 13 times for a metalworking company in Moscow