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Research the Competition

Why invest in researching the competition and their customers?

Research will very likely reveal opportunities you can capitalize upon. Used in connection with a survey of your own customers, you may discover competitive threats you were totally unaware of.

In particular, if your market is dominated by a large, single competitor, research can reveal ways you canHere's some MAPS research data capture significant business.  Most clients are surprised to learn the degree to which they share customers with competitors.

Here's some MAPS research data that demonstrates missed profit opportunities--and a surprising lack of customer loyalty.

RAL Environmental discovered that, despite some generous pricing concessions, it was sharing many customers with competitors who charged more. Why is RAL Environmental losing business to competitors if their prices are much lower? How could any company ever know there was a negative skew to the pricing/business ratio without good research?

Competitive knowledge will improve the bottom line.  There's no substitute for knowing what the competition is doing to your customer.

Knowledge is power. MAPS market research puts the power in your hands.