The analysis of the market and competition is a key element in running a company and looking for new business partners. Properly conducted research reduces the risk of decisions made and provides knowledge about the mechanisms controlling a given industry.
The main activities, that serve to create market analysis, is contact with public institutions and expert interviews or quantitative research on customer preferences. Such a review allows the assessment of the current situation of the markets and the selection of the most favourable solutions for a given enterprise.
Competition analysis is an extremely important element that should be taken into account when developing a company’s strategy and adapting the offer to similar services already available on the market. It is important not to be afraid of the competition because it is the competition that is the main trigger for development. However, care should be taken to maintain a balance between competition and our company.