Market, Competitive, and Site Selection Analysis

“We THINK this is a great market to target, but so does everyone else. Will it work?”

Understanding your market and the competitive landscape – physical or virtual – helps size the potential for your new product or service. Leveraging market metrics and competitor analysis will help inform what is possible.

Understanding your market and the competitive landscape – physical or virtual – helps size the potential for new products or services. Leveraging market metrics and competitor analysis will help inform what is possible.

The Risk of Skipping Market and Competitive Analysis – Case Study

On the heels of success of their popular single serving coffee machines, and backed financially by Coca-Cola, Keurig introduced Keurig Kold, an at-home, single-serve soda machine. The machines were priced at $370 – almost five times as much as SodaStream, the leader in the industry. Each drink produced was far more expensive than purchasing a liter of soda from the grocery store. Top that with declining soda sales overall as consumers sought out healthier options and it is not surprising that Keurig Kold had a very short shelf life – less than a year before Keurig offered full refunds to Kold buyers.

How Companies Succeed with Market and Competitive Analysis – Case Study

Conversely, a major healthcare provider used due diligence during the site selection process for a new urgent care facility in a tourist market. The company conducted in-depth market research to understand both the resident and tourist populations, including where they lived or stayed, major traffic patterns, and how feasible it would be for tourists to find the facility. The company was able to eliminate select locations and focus on areas that provided optimal exposure.

When to Conduct Market and Competitive Analysis

– You are entering new geographic areas with which you are less familiar.

– Physical or virtual competition is prevalent and your product or service relies on stealing market share.

– Market size is undetermined.

– Trend analysis could lend insight to new product or service potential.

The Integrated Insight Difference

– From our experience at Walt Disney Parks and Resorts – an environment steeped in creativity – we understand the allure of new entertainment, products and services. But even the best new idea will face fierce competition for a consumer’s time and wallet. Our techniques for evaluating market and competitive dynamics and determining optimal sites within a market have been developed from over 30 years of real-world experience.

– We study all of your potential audiences – including consumers and B2B partners – to develop solutions that fit holistic business goals.

– We understand that every product or service has both direct and indirect competitors. Consumers are multi-faceted and while you may have the only “Unicorn Experience” in town, the “New Age Jazz Band” pop-up may be stealing market share from your evening clientele.

– We analyze the competition objectively and subjectively. This includes a complete analysis of what your competitor sells, how they price and bundle their products, and how they go to market.

– For physical presence and identifying geographical areas of opportunity, we are adept at site selection. We put more credence on how consumers think and what is best for your long-term business goals over “too good to pass up” real estate deals that will result in higher marketing costs for years to come.

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