Competitor Value Chain Analysis is Powerful For Your Toolkit
This article is called Competitor Value Chain Analysis and is powerful for your toolkit. Explains and describes the strengths of Value Chain Analysis.
Competitor Value Chain Analysis is the process of analysing your operational chain, starting with your raw materials/customer attraction and continuing through to the finished product, including your customer service processes.
Isolate the significant activities in your value chain
For example, you can include inbound and outbound logistics. As well as sales and operational activities. It’s a great way to assess your efficiency and effectiveness. Allowing you to find ways to reduce costs. And improve product quality, customer attraction and service. Then, you can develop the Value Chain to create a potent tool to analyse your competitors. As follows:
Customer needs (Inbound logistics)
How do your competitors understand what their customers need? Also, are they looking at their customers’ future needs? Do they meet their potential customers? Where and how do they buy their raw materials? Finally, how often do they receive deliveries, etc.?
Product/Service Development (Operations)
- How does your competitor build their potential products/services?
- And how do they create prototypes?
- Also, how do they test their product/service before selling it? How good is it?
Delivery (Outbound logistics)
How does your competitor deliver and install their product? Also, how do they provide their service? Are their customers happy?
Sales and Marketing
How do they sell their products/services? What do they say, and how do they market it to customers?
Service
How do they provide customer service? Are they delivering excellent service? You will need to understand your competitors. This may be a great way to get into Competitive Intelligence. So, we expect that you will learn so much from Competitor Value Chain Analysis and find out things you didn’t know. You can copy (and enhance) their strengths and take advantage of their weaknesses to create a competitive advantage.
This article was called Competitor Value Chain Analysis is powerful for your toolkit. It explained and described the strengths of Value Chain Analysis.
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