How to do competitors analysis in an animal feed business ?

Competitor analysis in an animal feed business involves several steps:

First, identify your main competitors. These could be local, national, or international companies that offer similar products or services.

Next, analyze their products. What types of animal feed do they offer? What are the ingredients? What are the prices? How do they market their products?

Then, evaluate their strengths and weaknesses. This could involve their financial stability, their reputation, their distribution network, their customer service, etc.

Also, understand their strategies. How do they attract customers? What are their sales tactics? What are their future plans?

Finally, monitor their activities regularly. This could involve following their social media accounts, subscribing to their newsletters, attending industry events, etc.

Remember, the goal of competitor analysis is not to copy your competitors, but to find ways to differentiate your business and offer better value to your customers.

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Another form of analysis is a comparative market study. This slide compares a new market vs the rest of the world when it comes to an emerging market. The top graph compares a new market geography to the established market, while the bottom graph applies compares a mature product across a new market. An example of this would be if Apple were to chart its mature product, the iPhone, as it launches in a new market, like in India. For the mature graph, you can plot how long it will take the new market to reach the same penetration rate as the mature market. Use both comparisons to get a benchmark of how your existing product could stand in that new market. (Slide 11)

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Market Entry Strategy

Is your business eyeing a new market? Use our Market Entry Strategy presentation template to discover if an expansion investment is worth it. Whether...

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