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The strategic rationale of competitor profiling is simple. Superior knowledge of rivals offers a legitimate source of competitive advantage. The raw material of competitive advantage consists of offering superior customer value in the firm's chosen market. The definitive characteristic of customer value is the adjective, superior.
PowerStats is a highly automated platform intended to allow groups of competitors to contribute, manage and visualize data for purposes of benchmarking. Participants load raw data on a regular basis, and PowerStats creates relevant KPIs in real-time, making them available via self-service charts and tables via its online interface.
A firm with a market share of 25% would be a powerful leader in many markets but a distant “number two” in others. Relative market share offers a way to benchmark a firm's or a brand's share against that of its largest competitor, enabling managers to compare relative market positions across different product markets.
The wide appeal and acceptance of benchmarking has led to the emergence of benchmarking methodologies. One seminal book is Boxwell's Benchmarking for Competitive Advantage (1994). [6] The first book on benchmarking, written and published by Kaiser Associates, [7] is a practical guide and offers a
Benchmarking with relevant peers is a tool to assess the relative strengths of the resources and capabilities of the company compared to its competitors. Strategic fit can also be used to evaluate specific opportunities like M&A opportunities.
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