In an effort to understand best how to compete against their competitors in the market, a large rental company retained Direct Opinions to conduct a Competitor Analysis study. A Competitor Analysis is an essential component of a corporate strategy. It enables a company to gather competitive information systematically that can then be used to develop strategic marketing and sales strategies to differentiate a company in the marketplace and gain competitive advantage. Companies that base their decisions on “hearsay” and not on research results could make major mistakes based upon misinformation.
To achieve full anonymity, Direct Opinions conducted a “blind” telephone survey of both current and prospective customers. Through this initiative, 900 respondents participated in the study.
The results established the percentage of the sample base that have utilized the rental company in the past 12 months, but that also do not consider the rental company as their primary vendor. The results also identified non-customers and the vendors that they most frequently utilize and why. Satisfaction levels and opinions regarding strengths and weaknesses of top competitors also were gathered as well as specifics such as equipment quality, ease of rental and customer service. Results were evaluated by demographics such as location, size of customer, annual spend, etc. to provide a clear picture of competitor profile by geographic region.