Competition Research is an essential part of product research. For almost all categories, competition is fierce; keeping a close eye on competitors is very important.

 

In competition research, the following questions have a role to play:

1. A competitor has a new product: is that a threat to us?

2. How can I approach the scores for an A-brand as closely as possible?

3. How do our products rate against the competition?

 

The answers to these questions enable you, among other things, to improve your product, adjust the positioning, etc. 

 

A monadic survey on location or in-home is often a good approach to see if a competitor's new product is a threat. Moreover, such a survey provides good input for your own product development; it can be seen what the strengths and weaknesses of a product are.

Comparative research gives good insight into a consumer's preference for your product, or that of the competitor, and the reasons. Such a direct comparison usually gives very helpful hints for further product optimization. The procedure may also be carried out either in-home or on location.