Astrid Malval-Beharry shares a case study on competitive analysis that was used to support new product development and M&A decision-making.
Our client, a leading data and analytics vendor to healthcare organizations, sought to gain a detailed strategic and tactical understanding of eight competitors so that it could effectively develop a competitive positioning strategy. Our client wanted to understand which competitors (in the market now and potential new entrants) might most impact its strategy. They were concerned with how competitors were evolving over time, and how these changes might affect each competitor’s product portfolio and resulting market share.
StratMaven started with a baseline competitive analysis of each competitor. We then created a benchmarking framework in close cooperation with the client team. Examples of items analyzed in the framework included product offering, pricing model, technology, go-to-market channel, customer focus, R&D investment priorities, vision and strategy. We conducted secondary research as well as primary research with competitors’ customers, former employees, and partners. Our research revealed that key competitors were making strategic investments in smaller healthcare-related technology companies. By quantifying and rating each benchmarking criteria into a “scoring” model, StratMaven identified “major contenders” regional players ripe for consolidation.
StratMaven’s competitive analysis was used to support new product development and M&A decision-making, while ensuring our client was not caught off guard by competitor activity.
Key points include:
- Baseline competitive analysis
- Benchmarking framework
- Secondary research
Access the case study, Deep Dive into Competitors for a Healthcare Data Analytics Vendor, on StratMaven.com.