The client, with 7+ years in his industry, needed market research of the 2nd handbook industry in the UK. Also, comprehensive competitor analysis to review its position in the market. They needed to get a better understanding of their competitors and see how the industry has evolved.
Our market research of the 2nd handbook industry consisted of 3 approaches:
1) Competitor average book price – comparison of their pricing (maximum, average and minimum) over different online platforms.
2) Reference pricing on 5 books – sample of 5 books taken and compared against all competitors, in order to see how the same book is priced per competitor on different online markets.
3) Competitor scorecard – an in-depth analysis of each competitor in order to understand how they acquire books, how they sell the books, which online shops they use, how good do they utilize online shows, and see their financial records.
Danco is a serial entrepreneur, founder and CEO of BizzBee Solutions, proud father of a 3-year-old and a burger enthusiast. He is inspired by growth and goes above and beyond to make it possible – whether it comes to his 300+ clients or his people. Eager to learn more? Follow Danco on LinkedIn and Facebook.