Identify and evaluate marketing opportunities for your retail business

Marketing opportunities

Identify and evaluate marketing opportunities for your business and exploit them in the most effective way

Marketing opportunities for business

Ever-growing competition in ecommerce suggests challenges and opportunities in marketing for retail.

Marketing opportunities definitions are variable, but all of them place focus on searching in their own market section in pursuit of finding the place to attract more customers, introduce new products, and increase business growth.

Leaders of the market like bestsellers on Amazon are different from other retailers because they were more effective in the estimation of their market opportunities and also truly recognize their business potential for growth.

The reason they succeed is the implementation of competitive intelligence as a part of building their business strategies.

Where does competitor analysis concern marketing business opportunities?

Marketing opportunities for business |

Knowledge on current competitor insights allows for the building of an effective marketing strategy, which will be able to produce competitive advertising in order to land long-term customers, and consequently, increase the revenue and gross margin.

Advertising strategies usually are designed to support a marketing plan, which upholds the business strategy of the whole company.

In the issue you can now indicate the quite clear system of interactive effects and support:

  • competitive pricing analysis gives reliable data for profitable pricing;
  • competitive intelligence results allow using the information for marketing activity and online advertising in particular;
  • online advertising effectiveness sustains digital marketing opportunities, which stimulate business strategy realization.

For more about advertising you can read here.

Pricing strategies in marketing

Those who are trying to find direct marketing opportunities constantly have a chance to gain the outcome, but the question is how long such an approach will bring profitable decisions and will they have a long-term effect?

PwC market research has demonstrated the gradation of customers preferences in the process of selecting an online store for shopping.

Marketing opportunities for business |

Competera suggests such benefits as:

  • Collecting and timely delivery of accurate and reliable competitive insights
  • User-friendly and easy-to-analyze graphs that help to get the point across quickly and visually.
  • Highlighting the products demanding attention and providing recommendations needed to be taken
  • Storing the information on price changes for the whole time, so the price changelog can be analyzed within each separate product.

The price is still the first reason for all types of purchasing, which is why when analyzing marketing opportunities we should take into account the factor of pricing, which is able to propose huge opportunities for business growth.

Pricing strategies in marketing are oriented on effective price determination combined with other marketing principles like product, place, price, and promotion.

The right price from your client’s view is the result of time-consuming and hard analysis - competitor price monitoring, which guarantees the optimization of customer loyalty management as a consequence.

How to identify own marketing opportunities for business?

Marketing intelligence consists of monitoring and analysis of the best multi-level marketing opportunities with the help of effective instruments like the competitor price tracking tool or market intelligence tool.

The sense of modern tools implementation makes it possible to have relevant information everyday on competitor’s pricing policy, market conditions and your current business positioning, and new marketing opportunities.

Competera is experienced in online competitor analytics data scraping software, which will gladly help you find network marketing opportunities and to build, protect and support your business with the help of modern tools.

See how easy you can filter all your stocks by price alerts and competitors within Competera Products Report.

The process of developing and implementing a proper pricing strategy is easier and more efficient with Competera

because of benefits suggestions which are price monitoring on SKU level, timely data delivery (if one needs data at 9 am - Competera delivers it at 9 am), notifications on competitors price changings and price history analytics.