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A leading capital equipment supplier was increasingly worried about two international competitors that appeared to be aggressively pursuing the Client’s core market. These companies appeared to be gaining market share by aggressively discounting their products and offering next day delivery.  The Client wanted to take corrective action quickly to prevent these competitors from gaining further momentum. However, the Client was unsure of the extent of the competitive threat.

The Client had internal discussions with leaders of key functional groups to gain a better understanding of the competitive threat. Executives, however, had different opinions regarding the driving factors that were leading to the success of these competitors.

Given the Client’s limited knowledge of these companies, the Client turned to RSR Marketing Solutions (“RSR”) for assistance in gaining a fact-based assessment of the competitive landscape.

Project Objective

Develop a fact-based assessment of key competitors and the threat they pose to the Client’s business

RSR Approach

Market Analysis

  1. Understand key competitors’ strengths and weaknesses relative to sales and marketing, sourcing, manufacturing, and management.
  2. Understand the companies’ growth plans and strategies.
  3. Assess the impact of the companies’ recent tactics on the Client’s business.

Customer / Competitor Analysis

  1. Understand customer opinion regarding each of the key competitors as well as reasons for buying from each of the companies.
  2. Determine how changes in the competition have affected the customers’ buying behavior and supplier mix.

Results

Key Study Findings

  1. Quantified the competitive threat from each company and rank ordered the segments that appear to be impacted.
  2. Found competitors to have a sequential approach to attacking the market by developing one product a year in each category.
  3. Found customers in a particular region and segment to be particularly vulnerable to one competitor’s approach.

RSR Recommendations

  1. Bundle products, where appropriate, since competitors do not offer some of the core components of the integrated offering.
  2. Improve service offering to include availability of service technicians and delivery responsiveness.
  3. Improve relations with Tier 2 customers through customer relationship and retention programs.

 

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