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Competitive Analyses

Benchmarking Against Competitors

Scope of Service: Compare overall business performance against competitors by gathering essential client financials, production and sales data as well as other key operational data, and mapping this data to his competitive market. This is something that every company should be doing on an ongoing basis - and most rarely do.

Duration: 3-5 business days, depending on size of the market

Objective/Possible Outcomes: Determine how well the client is doing compared to the competition, and where client can make high value improvements.

Process/Methods: Spend up to day gathering client's financial and other operational data, and determine the availability of comparative market data (if not available, may not be able to deliver value). The remainder of the time is used to gather key comparative data from a variety of sources available to Ironwood, and mapping the client's data to data from the comparative market.

Deliverable: A report that details how the client stacks up in his market. The report will be delivered during a half-day session with management (and possibly some key staff); during the session Ironwood will discuss recommendations on where to best focus efforts on improvements

For more information on Ironwood Advisory's performance improvement practice please contact us.

Competitive Marketing Analysis

Scope of Service: Gather product, pricing, and sales details on 3-5 major competitors by soliciting proposals for competitive products/services for a (non-existent) customer.

Duration: 4 business days

Objective/Possible Outcomes: Capture key competitive information via proposals to determine how well the client is able to compete; make recommendations on changes.

Process/Methods: Ironwood's client identifies the 'targets' (the competitors). Ironwood, with the client, develops a questionnaire designed to extract information not readily available via normal channels (e.g. web sites, advertisements, analyst reports). The questionnaire is sent to the targets' sales organization, who is then engaged on the phone where the 'customer' is more fully described. Once done, the questionnaire is completed and emailed to the Ironwood consultant. The consultant then suggests that the target deliver a formal proposal based on the questionnaire response, including pricing.

Deliverable: Questionnaire responses, formal Proposals, and a Report that includes both Ironwood's observations and recommendations to address competitive issues noted. The report will be delivered during a half-day session with management (and possibly some key staff); during the session individuals will 'sign up' responsibility for the remediation actions.

For more information on Ironwood Advisory's performance improvement practice please contact us.

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