Tag Archive for: competitive analysis

Pharmaceutical market in Poland

Pharmaceutical market in Poland The pharmaceutical market in Poland is one of the most strategic industries in the country. It is considered one of the most innovative. In 53.9% of companies manufacturing basic pharmaceutical substances, drugs and other pharmaceutical products, innovations were implemented, translating into 3.1% of all national expenditure on innovation. Below, we present […]

The furniture market in Poland

The furniture market in Poland Poland is a leading exporter of furniture globally. The country delivers the most furniture to Germany, the Czech Republic, and Great Britain. The furniture market in Poland brings 2.3% of Polish GDP; thus, it is the highest share of GDP compared to other countries producing furniture in the European Union.

Information – the driver of business development. How to use it?

Business is constantly changing, and its success does not depend on money nowadays. Currently, information is the essential capital and resource in business – often of priceless value. It is even more critical now when there is too much accessible data (what can be overwhelming), and we need to focus on a skilful selection of information.

In which areas of business is it worth applying the capital? Here are some suggestions.
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Analysis of the car wash market – Case study

Our client had a patent for a new solution for touchless car washes and planned to enter this market with his offer. That is why he needed a lot of detailed information, and all of them were provided thanks to our detailed analysis of the car wash market.

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Market analysis – the key to business success

At work, we are often so occupied with many urgent and important projects that we do not have time to deal with what should be the basis of every action and decision in a company. What are we talking about now? About data provided by market research, competitive analysis, and business research.

There are companies where – due to lack of time or competencies – business decisions and development strategies are not always based on hard data. Unfortunately, this is a simple path to failure. Although intuition in business is very important, it must always be accompanied by in-depth knowledge of the market.

So, how can your company benefit from the market analysis that is understood as a continuous process of gathering and analysing information about the market, industry, customers, and competition?

Market analysis helps make good decisions

Market analysis is needed at every stage of the life cycle of a company and its products. Thanks to the analysis, the business can be successfully adapted to the changing needs of customers, the activities of competitors, the technological environment, and the brand image.

Data and conclusions from market analysis facilitate decision-making, e.g., on introducing new products, optimising production and logistics, implementing innovations, or entering foreign markets. Therefore, market analysis can be used by various departments and functional divisions of the company, including planning, management, development, procurement, production, logistics, sales, and marketing.

Before deciding to start a business, market analysis helps verify the chances of success and design a market entry strategy. When a company applies for investor support, subsidies or grants, the market analysis provides data that can prove that the business idea will be profitable. Thanks to market analysis, companies already operating in the market can identify barriers to development, success factors, as well as new markets, new customer segments, and new development opportunities. And in the declining phase, the market analysis provides information about the costs of exit or supports the company’s sales process.

Market analysis helps identify business opportunities

If you want to make decisions that will support your company’s development, you need to monitor the situation in your industry regularly and carefully. This means the necessity to constantly analyse the entire environment of the company – economic, legal, technological, and competitive. As part of this process, information on four key areas should be collected and analysed: market, customers, competition, and competitive advantage factors.

Analysis of the market will allow you to answer many detailed questions that arise during everyday work. Is there a place on the market for another company or product? What are the development prospects for the entire market or its specific segment? Will it be profitable to enter foreign markets? What is the cost of entering the market or exiting the market? What success factors determined the dynamic development of market leaders? What production, logistics, sales, and marketing strategies are used by other companies in the industry? What are the strong and weak points of the competition? What are the needs, habits, and preferences of consumers? What kind of market, technology, or consumer trends are emerging in the industry?

Business analysis helps develop business strategy

Market analysis requires much commitment, a lot of time, as well as specialist knowledge of information sources, data harmonisation, information verification, and analysis methods. However, this considerable effort pays off because it will result in good business decisions, and it will facilitate business success.

Therefore, it is not worth treating the business analysis neglect and commissioning it to an inexperienced, random person, e.g., an intern or an assistant. And if your business lacks competence or time, consider outsourcing industry monitoring and market analysis to a professional company such as Market Hub. Usually, it is not a big cost, and you can gain a lot: time savings and access to up-to-date and verified data that can become the basis of the company’s development strategy.

Do you want to learn more or get a quote
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Heat pump market analysis – Case study

The MarketHub team conducted a research study for a company that needed market analysis of the high-power heat pumps segment. The report prepared was aimed at determining the current situation and showing the potential of the market. The heat pump market analysis included both internal and external factors affecting the industry to better respond to our client needs.

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Analysis of the safety nets market – Case study

A company that wanted to introduce protective nets to its offer came to the Market Hub to request a market analysis. The client was interested in the safety nets production and had a general understanding of the market. However, he also needed information on the potential competition and the necessary equipment, which was to be provided by our analysis of the safety nets market.

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Market analysis of components for power hydraulics – Case study

Projects implemented by MarketHub are diverse in terms of, e.g., topics and markets. This time, we conducted a research study on the industrial sector. Our client was a producer of components for power hydraulics.

Our market analysis of components for power hydraulics was aimed at examining the overall market situation and identifying the most important competition in the industry.

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Streetwear market

Streetwear market Streetwear is becoming an increasingly large sector in the fashion industry in the world. This clothing style was initiated by the community of skateboarders, surfers, and hip-hop culture. The roots can be traced back to Los Angeles at the end of the last century. In this article, we present how does the streetwear […]

Agricultural tractor market in Poland

The Polish agricultural tractor market is still potentially large. There are approximately 1,444 thousand agricultural tractors in use in Poland with an average power of 45.3 kW, their average age is approximately 25 years, and the degree of wear is 77%. From 20 to 30 thousand tractors are registered annually – these machines are both new and used, imported from abroad.

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