Competitor research in a new market answers the question of whether the company has something to offer customers who already have someone to buy from. It establishes who the main players are, including local ones, what the price level and range structure look like, through which channels they sell, how they communicate, and what customers criticise about them in reviews. Reviews and discussions are precisely the cheapest source of insight into where the gap lies. They are supplemented by search data in the local language, an overview of competitors' ads, and a comparison of delivery times and warranties. The result should be a decision on whether the company enters with a lower price, better service or specialisation – entering without an answer to this question ends in competing on the lowest price.
See also: Choosing a target market, AI for Competitor Monitoring, Differentiation.
