“Keep your Friends Close but your Enemies Closer”- Sun Tzu
In a cut-throat market, businesses must be aware of their competitors and be prepared to adapt their strategies accordingly. While plagiarism is unacceptable, it is perfectly acceptable to be inspired by competitors and adopt their best practices, with your own unique twist.
Competitor analysis is the process of learning about your competitors' strengths, weaknesses, opportunities, and threats. It's an essential part of any business strategy because it helps you make informed decisions about your own products, services, marketing, and pricing.
Companies hire firms to perform competitive analysis for them and spend a good fortune. But did you know that if you are a Microsoft Dynamics 365 CRM user, you could do it seamlessly with
Plotting of records-
Hotel chains must carefully consider the location of their new hotels. Hotels should be convenient to airports, train stations, and city centers. They should also be close to healthcare services, marketplaces, and other amenities. One way to identify good locations is to look at where competitor hotels are located. You can
Mapping of Land Area-
A popular fabric manufacturer abandoned his plan to build a new factory at a particular location after reading that a competitor had left the same location due to flooding. Using
Cosmetics businesses planning to set up a production lab can research their competitors' suppliers to learn where they source their ingredients and chemicals. Some medium-scale cosmetics brands even share production labs with their competitors. Businesses can plot nearby labs from their storefronts or offices, check reviews, and find the most convenient ones to partner with. They can also map
Offering comfortable travel-
As the owner of a coastal resort, I can identify popular tourist attractions near my competitors' resorts. Then, using
Exploring new Areas-
Grocery store owners looking to expand their business should study new residential development sites to identify potential locations for chain stores. This would give them a competitive advantage and the benefit of being first-to-market. Maplytics can be used to visualize these sites on maps along with their surrounding areas.
There are many ways to analyze competitors from across industries, but it depends on how creatively you use the data.
The unique features of Maplytics could be experienced when explored more with a trial. One can write to the Team at email@example.com for mapping requirements, a
To learn more about Maplytics, its applications across industries, and another multitude of features, do visit the