Competitive analysis
Identify business opportunities and detect competitive threats
For more than 30 years, our specialized team has been supporting companies in carrying out competitive analyses to identify opportunities and threats related to competition in their target markets.
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Key success factors for a competitive analysis
Competitive analysis can vary according to the objectives being pursued (checking the viability of a new project, understanding the intensity of competition in a market, reworking positioning and strategy, identifying acquisition targets, etc.) and the information sought.
To understand the dynamics of a market, it is essential to have an in-depth knowledge of the competitive ecosystem, which of course includes direct competitors, whose offerings may be similar, but also indirect competitors, whose activities, although different, meet identical needs. The question is to know who the competitors are, in the eyes of the customer, and not just according to their own prism! In some cases, indirect competition can have a greater impact than direct competition.
What’s more, the competitive ecosystem needs to be considered in dynamic terms, i.e. identify new entrants, current developments by existing competitors, etc.
What needs does my offer meet? Who are the players offering similar services? Which companies operate in the same sector? Which companies are planning to enter the market?
The aim of this phase is to explore and capture relevant competitor data to better understand their positioning. By identifying their competitors’ strengths, companies can determine where they need to make progress and adapt. Similarly, by characterizing their weaknesses, they can identify opportunities to differentiate themselves further and capture a larger share of the market. Finally, analyzing competitors’ strategies provides valuable insight into the tactics used by market players, enabling them to better anticipate changes in their competitors’ behavior and constantly adapt their own strategy.
What are competitors’ objectives? What strategies have they put in place to get there? How long have they been on the market? In which geographical areas are they concentrated? What are the strategic directions taken by the main competitors? What investments have competitors made?
By understanding market expectations, trends and consumer/customer preferences, an effective positioning strategy can help you stand out from the crowd. The idea is to create a more attractive value proposition with competitive advantages, whether through innovation and the creation of new products or services, by targeting a specific market segment or by adapting your strategy (price positioning, marketing and communication, etc.).
How can I identify my company’s strengths? How can I improve my competitiveness in relation to existing offers? How can competitors react to a change in strategy?
How we support you in your competitive analysis
Competitive analysis is a one-off study focused on the practices and situations of competitors, which can be based, for example on the 5 “Porter’s strengths” (current competitors, the threat of new entrants, the threat of substitute products, the power of suppliers and the power of customers) or on other methods of investigation and analysis within the framework of our projects. It can be used for competitive intelligence, or as a war-game / win-game exercise with our customers’ teams, enabling us to anticipate possible movements of competitors and prepare for the future at different time points.
Competitive analysis can serve various objectives such as optimizing the company’s strategy, developing a marketing plan or a market access plan, or building a business plan.
What they say
"Alcimed’s explorers have an excellent level of scientific knowledge. They are empathetic and diplomatic!"
Cornelia FUNK
Head of Marketing Ophthalmology
"We were looking for a sharp view on our business to allow us to better analyze the market on countries that we knew, or countries where we wanted to establish ourselves."
Jérôme ARNAUDIS
VP Air Solutions
Examples of recent competitive analysis carried out for our clients
Competitive analysis: animation of a strategic and operational reflection around the evolution of the competition
Our team supported a client in the healthcare sector in the preparation and facilitation of a prospective exercise of competitive evolution by teams around the world. Our client was in a particularly competitive market environment and wished to project with its teams the evolution of its competitors in order to work now on action plans of differentiation and gain or maintain market share.
To do so, our team first analyzed the portfolios of the major competitors and their dynamics, then analyzed the other players in the ecosystem, who could either develop specific solutions or technological bricks, or hold strong positions on a niche sub-segment of the market. We then analyzed potential new entrants, based on market trends.
Based on all this, our team co-defined prospective scenarios with our client, in preparation for the facilitation of a global workshop in a “win-game” format, enabling the teams to be involved in identifying the strongest threats and defining actions to be implemented now to prepare for them proactively.
Competitive analysis: competitive intelligence on biosimilars of a biological drug
We assist one of our clients in the pharmaceutical field in carrying out regular competitive intelligence on the biosimilars of one of its drugs.
Before launching our monitoring, our team carried out a scoping stage by interviewing the various stakeholders involved in this monitoring, internally at our client’s site, in order to precisely define the elements of value for each (new regulations, announcements from manufacturers in the market, new partnerships published, new clinical results, etc.).
For more than 3 years, Alcimed has been leading the community of internal contributors (Market Access, Pricing, Regulatory teams) to publish a regular monitoring bulletin, synthetic and original!
Competitive analysis: market research and competitive analysis to prepare the launch of a new medical device in China
Our team supported a medical device player in preparing the launch of one of its products on the Chinese market. In order to finalize its launch roadmap, and to validate its market positioning, our client called on our team to conduct a market study on competing offers in China.
To do so, our team conducted an in-depth bibliographic review, complemented by interviews with buyers and users of medical devices such as our client’s, in order to gather their knowledge of the current market offering and their expectations with regards to a new solution entering the market. Our market study enabled our client to refine the positioning of its product and finalize its targeting plan and launch sequence.
Competitive analysis: supporting a pharmaceutical company in its transition to a new value proposition
One of our clients, a player in the pharmaceutical industry, was looking to make a transition to a new value proposition likely to induce profound changes in its commercial functions. We helped them broaden and challenge their current vision by exploring the models of other companies, notably through a comparative competitive analysis and sharing of experiences, and by analyzing the needs and expectations of their customers. Our team organized several workshops with our client’s teams in order to produce a complete set of specifications for the future business and the associated roadmap for the upcoming transition.
Competitive study: competitive analysis in preparation for the reorganization of a pharmaceutical company's medical affairs department
For a leading pharmaceutical company wishing to reorganize its medical affairs department by specialty, Alcimed carried out a competitive study of medical affairs organizational and operational models in the pharmaceutical industry.
Our team studied and analyzed existing models in terms of governance, structure, operational functioning, roles and responsibilities within several companies. This competitive study enabled us to identify the various possible models for our client, to understand the key success factors as well as the pitfalls and traps inherent in an evolution of medical affairs through specialty medicine, and to recommend the best way to build our client’s new medical affairs team.
Realization of a competitive analysis in the field of cybersecurity for a player in the aeronautics industry
As part of a response to a call for tenders, Alcimed assisted an aeronautical company in carrying out a competitive analysis in the field of cybersecurity, in order to help it position itself better in relation to its competitors.
Based on a comprehensive literature review, we defined the criteria that would make a company a threatening competitor, then analysed the main competitors on this basis. We also monitored other relevant players with whom potential alliances could prove strategic.
A cross-analysis of the information and a comparison of the competitors on different criteria finally enabled us to identify the most threatening players, their strengths and weaknesses, and ultimately to adapt our client’s response strategy to the call for tenders.
Strategic partnership study of competitors in the field of regenerative beauty for a leader in cosmetics
Alcimed assisted a leading cosmetics company in carrying out an overview of its competitors’ partnerships and external initiatives in the field of regenerative medicine and beauty, in order to define their strengths, clarify gaps and prepare for the future.
To do this, we carried out in-depth research into the relationships between its main competitors and the leaders, emerging players and academics working on regenerative medicine and beauty.
This work enabled us to draw up an overview of the key partnerships forged by our client’s competitors over the last 5 years, the dynamics of investment in the field, and the ‘hot’ topics most frequently investigated by these players.
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Founded in 1993, Alcimed is an innovation and new business consulting firm, specializing in innovation driven sectors: life sciences (healthcare, biotech, agrifood), energy, environment, mobility, chemicals, materials, cosmetics, aeronautics, space and defence.
Our purpose? Helping both private and public decision-makers explore and develop their uncharted territories: new technologies, new offers, new geographies, possible futures, and new ways to innovate.
Located across eight offices around the world (France, Europe, Singapore and the United States), our team is made up of 220 highly-qualified, multicultural and passionate explorers, with a blended science/technology and business culture.
Our dream? To build a team of 1,000 explorers, to design tomorrow’s world hand in hand with our clients.
Competitive analysis, or competitive benchmarking, is a one-off market study focusing on competitors’ practices and situations.
This analysis can serve a variety of purposes, such as optimizing corporate strategy, developing a marketing strategy or market access plan, or building a business plan.
In an ever-changing economic landscape, competitive analysis is an essential tool for companies seeking to maintain their competitive edge and offer attractive products and services. Among other things, it makes it possible to:
- Gain a detailed understanding of its ecosystem;
- Identify new market opportunities and threats;
- Anticipate trends and new customer needs;
- Evaluate its own position in relation to its direct or indirect competitors;
- Identify the arrival of a new competitor on the market;
- Adapt its value proposition to make it stand out from the crowd.