Assignment

Aim of method usage:
determine similarities analyze competitors analyze strengths analyze weak spots

Method classification:
Methods for analysis and aims Methods for solution generation

Process phase:
clarifying the task

Useful links:

Glossary

Literature

Benchmark

Benchmarking, Wettbewerbsanalyse

Benchmarking consists of a detailed analysis of the most important competitors and a comparison to the own operational situation.
It is meant to create a systematic collection and evaluation of competitors' products, market activities and new technologies by competitors, so that there exists an information basis for the own strategic planning of products.

Procedure

Adaptation of already existing checklists: already existing checklists for benchmarking need to be adapted to the specific situation.
Collection of data: Collect data required for the analysis. Possible sources can be the internet, promotional material or competitors' brochures as well as trade fairs. Initial questions to keep in mind when gathering information: Who are the most important competitors and where are they located? What kinds of products or services do they offer? Who is the market leader in this field?
Analysis: analyze the data collected with respect to the predefined task or aspect. For example: What does the market leader do differently (function, design, warranty, delivery times)?
Processing of results: evaluate and process the results from the analysis for example by generating diagrams or graphs for presentation purposes.
Deduction of action strategies: draw conclusions from th results for your own product planning.

Strengths and weaknesses

Strengths	Weaknesses
useful for assessing opportunities and risks objective definition of own position discovery of solutions that have been proven to effective can improve productivity, technological breakthroughs and competitive edges development of a well-founded database aiding with business decisions	contains many subjective assessments focus on competitors' products may hinder own creativity much data is difficult to access needs a lot of maintenance exchange of sensitive data may require antitrust review cooperations and strategic alliances are not taken into account

Similar methods

Literature and Patent Research

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aktualisiert am Nov. 15, 2015, 4:53 p.m.