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Management Consulting and Systems Integration: Competitive Intelligence Results in Business Strategy Shift for Start Up Retailer

Business Challenge

Determining the fundamental business strategy of how to attract and retain new customers is paramount for an existing company and a matter of survival for a start up. Gaps, niches and opportunities in the market must be uncovered during the discovery and development of a new entrant. As a late entrant to the marketplace, one start up power retailer struggled with the numerous possibilities for differentiation among several strong existing players. What untapped opportunities existed in this market space that could be leveraged for competitive advantage? What was the benchmark for customer service? Which competitors were selling on price versus value-added services? Which competitors were the biggest threats in both the short and long run?

Solution: Robust Competitive Intelligence Study

Armeta conducted thorough research for this retailer of the top 20 competitors in its market space. Organizations were investigated by conducting interviews and via public reports, corporate websites and public news sites to determine competitive strengths, weaknesses, and corporate strategy. Armeta performed a price comparative analysis among key competitors using metrics including pricing, the pricing request process and salesperson performance. Analysis revealed pricing strategies, value propositions, service cycle times and contractual variances that not only uncovered potential threats, but also highlighted areas for improvement and differentiation for this start up retailer.

Result

A clear picture of the competitive landscape allows the company to build customer service, product and pricing strategies that are driven by stated customer need versus a reaction to competition. This start up retailer determined their market niche and is executing its customer acquisition and retention strategies based on the competitive intelligence findings. It is now enjoying a steady flow of new customer acquisitions and has a strategic vision in place to counter competitive threats in the future.
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