Disagos of the Mercado Objective: Competition analysis
Introduction.
Globalization has led to the emergence of new markets, but also, innumerable competences;That is why companies must remain at the forefront to achieve profitability and therefore, sustainability. López, affirms that the creation of organizations (companies) does not arise for the same reasons;Some arise as a personal need, due to experience in some field, an opportunity has been detected in the market, for a creative idea, among others.
Although these reasons are far from each other, they all have a common variable and is to meet the needs of consumers. Organizations must be focused on improving efficiency, productivity and offering a product and / or service with a quality and value proposition;This results, one of the most decisive aspects to achieve the positioning of companies or organizations, is market research.
What is market research? Pereyra, affirms that Philip Kotler in his book Fundamentals of Marketing establishes that ‘is the design, obtaining, analysis and systematic presentation of data relevant to a specific marketing situation that an organization faces’. This concept is usually confused with the market study, which is an activity that is usually carried out before launching a business project to measure its viability, says Nuño.
Developing
Market research is decisive in providing marketing specialists with the necessary information on the market and consumer to delineate successful strategies;It is usually a complex task, but without a doubt, it helps minimize risks and be more effective. Camuñas warns, that market research contributes the following to the company or organization:
• Clarity and success. Nuño states that some of the tools used in market research are;Surveys, studies, databases, statistical studies, interviews, focus groups, among others;of which we will obtain more data to know the perception and tastes of the client which pays optimization to the company. This allows to have a broad and detailed panorama of the behavior of consumers and vendors, based on real and objective information to make successful decisions and obtain a greater degree of success that favors the growth of the company.
• Know our target market better. The market study allows to know and understand the main characteristics and consumer profile based on demographic aspects (age, sex, nationality), socioeconomic, purchase habits, lifestyle, among others.
• Minimize risks. When implementing different methods and information analysis tools, these contribute to minimizing the risks in the strategic decisions of a company. The information collected is used to determine the type of product that must be manufactured or adapt.
• Lower costs. The research carries information on how the tastes and preferences of the consumer change, so it allows the company to adapt and be able to respond to it. This helps determine the most appropriate sales system according to what the market is demanding, delineating strategies where costs are quantified and set margins of price margins.
• Maximization of resources. Market research allows adequate planning and control of resources to meet market needs according to tendencies allowing to establish competitive advantages over their competitors.
• Identify opportunities. One of the benefits of market research is that it allows identifying niches or market segments that are not being impacted and expand their geographical coverage and segmentation.
• Innovation. The market situation follows from market research and what are the trends, facilitating a more creative and innovative disposition appropriate to customer needs.
• Competition recognition. It is very important that the company or organization knows its position before its competitors, evaluating what other brands offer and what motivates people to buy those products.
Conclusion:
Market analysis and research seeks to know the market environment to better face competition in the dispute over consumers preferences.
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