That is why, with our innovation-driven approach, we bring together the three perspectives „market“, „products“ and „competition“:
- Comparison of products with market needs provides insights into „product-market fit“
- Comparison of products with the competition reveals own strengths and weaknesses
A successful market and competition analysis is not a project, but a continuous task! To realize this, the required data basis is needed – always up to date and qualitatively high. The most promising leveraging possibility for optimizing the cost-benefit ratio is therefore automating data retrieval as well as cleansing as far as possible.
The software implemented in the „compass“ innovation-project is based on a continously steady state of knowledge about the needs of relevant market segments and the company’s own as well as the competitors products. Based on this, we perform AI-supported, automated analyses that deliver insights of unprecedented quality. We achieve the greatest possible benefit by sharing our insights with a broad user base within the company. In addition to product management, these are primarily marketing and sales, but also management or controlling.
Our goals from the user’s point of view:
- Aligning the target market with real market needs.
- Identifying new product opportunities
- Targeted development of existing products
- Better understanding one’s own USP and also being able to communicate it
- Better pricing strategy and benefit argumentation for product management, sales and others
- Stabilization of market and competitor analyses with significantly reduced effort
- Automated data acquisition and observation of the competition
- AI-based analyses with innovative and meaningful visualizations
- Simulation of benchmarks for new products even before development: „Find the next Cash Cow“.
- Finding suitable products, incl. benefit argumentation for a give competitor’s product
- Analyzing and visualizing historical data (e.g. price development per region or industry)
- Information transfer: Use of the results by other roles in the company