For every business, a competitor is always present, and why not use this to your advantage?
Patracode offers specialized services for competitive analysis in a wide range of subject domains. A competitive analysis covers several aspects with respect to competitors in your field of business. In other words, it refers to a systematic process which includes the collection and analysis of information based on strengths, weaknesses and future intentions of competitors.
Understanding how your competitors manage their intellectual assets can help determine their future strategies, which in turn will help you assess your own organizational position vis-vis other competitors in the industry.
Our team at Patracode uses a set of techniques and processes to formulate a thorough comparative analysis report. Some of the main aspects that are taken into consideration are as follows:
- Assessing the different technologies that are covered in a specific subject domain and further analyzing who are the main players in these technologies.
- Understanding which of the players play a lead role in the main technologies in question.
- Analyzing the strength of your portfolio in comparison to portfolios of competitors
- Analyzing a specific competitors portfolio if it is of high relevance.
There are several other factors that need to be taken into consideration while conducting a Competitive Analysis Report. Let us understand these factors through an example.
An example with respect to a health care equipment in the health care domain, some of the factors that are analyzed may include country specific competitors, location of R&D facility, demand for sales of equipment, trademark data of the company and their other products, market presence in different countries, etc.
All these aspects will give an overview of the technology and its strengths and weaknesses in the target market. Some of the other aspects of the competitors that our team assesses includes patent filing patterns over the years, specific subject area of majority of patent filings, legal status of the patent and patent applications, etc.
Competitive analysis reports are also generated in combination with specific patent searches and landscape analysis, depending on the requirements of the client. Our team assesses the apt strategy to give the client the most comprehensive report based on their needs.We have a systematized process where specific requirements of the client are taken into consideration and the competitor analysis is conducted based on it.
Our expertise comes into picture in collecting qualified data and understanding the importance of the data to plot out the most consolidated report. Therefore choosing Patracode for your Competitive Analysis will assure you a good overview of your competitors past, present and further steps in the industry. Analyzing your competitors step may benefit your company to take important decisions in the years to come.
