Who are your competitors?
Explore the competitive landscape for your organization and differentiate yourself.
Understanding your competitive landscape is crucial. When you know how your organization is perceived compared to other organizations that offer similar products or services, you can make informed strategic decisions and differentiate yourself.
Leger Analytics can help you answer the following questions:
- Who are your competitors?
- How can you distinguish yourself? Is your brand distinct from other brands?
- Are there any gaps or opportunities in the market? Is there a market niche that you can strategically capture?
- How can you position yourself strategically to stand out to the most appealing segments within your target population?
- Is your brand reflecting its positioning goals?
We may use any of the following techniques, or a combination, to carry out our analysis:
- Biplots or Quadrant Analysis
- Correspondence Analysis
Who is your target population?
Understand your target population in detail and the best way to reach them.
Using our unique market segmentation algorithm, we will help you develop an in-depth understanding of your target population. We can group the members of your target population into segments based on their needs, intents, preferences, or other variables, therefore enabling you to customize your communications for different audiences based on what they are looking for. The more you know about your target population and the segments of people within it, the more equipped you will be to exceed their expectations.
Leger Analytics can help you answer the following questions:
- Who is your target population?
- Are you targeting the right people?
- Who are the groups you are overlooking? How can you reach them?
- How can you group people looking for similar benefits, or who operate similarly, so your organization can improve how you communicate with them?
We may use any of the following techniques, or a combination, to carry out our analysis:
- Cluster Analysis
- Decision Tree Models
- Latent Class Models
- Naïve Bayes Classification
What matters to your target population?
Learn what matters most to your target population (and key segments within that population) to make the most impactful strategic decisions.
Knowing who your target population is helpful, but knowing what matters most to them is invaluable. With this information, you can make organizational decisions that have the greatest impact.
Leger Analytics can help you answer the following questions:
- Which attributes/features are most important/appealing to your target population when they are making a decision (such as which product to purchase, which event to attend, which pharmacy to fill prescriptions at, etc.)?
- When forced to choose between several alternatives, which bundle of attributes/features is most appealing to your target population?
- Which factors drive overall satisfaction, Net Promoter Score, or other KPIs, and which ones have the largest and smallest impact?
- What should you prioritize to improve your overall satisfaction, Net Promoter Score, etc.?
- How can you reduce churn?
- Which segments should you target for maximum impact?
- Given the competitive landscape, what is the best strategic decision for your organization?
- Which of your brands or product lines can sustain higher (premium) pricing?
- Which of your brands or product lines will be impacted most if your competitors reduce their prices or introduce a private label? (cross-elasticity)
We may use any of the following techniques, or a combination, to carry out our analysis:
- Conjoint (Trade-Off) Analysis
- Discrete Choice Models
- Generalized Linear Models
- Key Driver Analysis
- MaxDiff Analysis
- Multiple Regression Analysis
- Structural Equation Modelling
- TURF Analysis (Total Unduplicated Reach and Frequency)
What pricing strategy should you follow?
Deciding how to price your products and services is a delicate balance.
If your product or service is priced too low, you may be leaving money on the table. Conversely, if your product or service is priced too high, consumers will not consider buying it. We can help you understand how to price your products or services competitively, how much your consumers are willing to pay, and how your competitors’ decisions may impact your brands or product lines.
Leger Analytics can help you answer the following questions:
- What is the ideal price of your product/service from a consumer perspective?
- How much are consumers willing to pay?
- What price should you set to be competitive?
We may use any of the following techniques, or a combination, to carry out our analysis:
- Conjoint (Trade-Off) Analysis
- Van Westendorp Price Sensitivity Meter (PSM)
If you are interested in learning which of your brands/product lines can sustain higher premium pricing, and/or which will be most impacted if a private label is introduced, consult the “What matters to your target population?” section above.
