Arrow Point’s Competitive Intelligence is the decisive differentiator of any business and helps stay ahead in competition. Arrow Point offers, a whole range of Competitive Intelligence services which will help to improve businesses. We support in-house CI & Strategy Departments in corporations, CI Consulting firms and Technology / Strategy advisories in conducting Competitive Intelligence studies.
Your competitive advantage is what sets your business apart from your competition. It highlights the benefits a customer receives when they do business with you. It could be your products, service, reputation, or even your location. For example, Do you offer - home delivery, a money back guarantee, a 2-hour call-out service or childcare facilities ?
To identify your competitive advantage, you need to understand your competitors and your customers. Ask yourself:
Arrow Point’s Market research study will help you to answer these questions. Our market research methodologies will reveal how your business is different from your competitors, and what you have to offer that appeals to your customers. In-depth customer research will help you identify your customer or client needs and increase your competitive edge.
Use Arrow Point’s market research kit to find key economic, demographic and statistical information about your industry.
When customers buy your product or service, they are buying the benefit that it gives them. It may be that your product makes their life simpler, or your service helps them to feel better about themselves. Think about how your competitive advantage benefits your customers.
For example, the competitive advantage for a sandwich shop may be: We use fresh, local ingredients to make-to-order the highest quality gourmet sandwiches in the local area.
Different customers may see different benefits:
Thinking about how your business can benefit your customers will help you to pinpoint your competitive advantage.