Competitor analysis is used to evaluation the strengths and weaknesses of your main competitors, but in our case focused exclusively on Asset Management, Maintenance and Aftermarket capabilities. Our analysis will provide information on what are your competitor’s current and future strategic actions and the effects this may have on your current and future initiatives and profitability.
Main objectives of AssetRight competitor analysis can be summarised as follows:
- Generate understanding of competitors and potential new entrants current and future strategies
- Help management understand their competitive advantage/disadvantages
AssetRight competitive benchmarking helps your business compare your systems, processes and services with other organisations. This analysis can be made on specific service features or can be on broad customer service categories such as parts availability, dealer capability, service network, product warranty, etc.
AssetRight analysis of your competitors will identify where your existing strategy needs to be reviewed and modified to compete against your existing threats. The success of your business depends on a strong competitive edge that builds a loyal customer base that can be expanded over time.
Competitive Benchmarking is a process where a firm’s standard operating system and performance metrics is weighed against industry bests or best practices from other organisations. By employing this procedure, the management can flag the best firms in their industry and compare the results and processes of those studied (the "targets") with one's own results and processes.
- How are competitors likely to respond to changes in new products or service offerings of your business
- Provide an informed basis to develop strategies to achieve competitive advantage
- Help forecast the returns that may be made from future investments