Research on the capabilities of digital tools for competitive analysis in the banking market

Competitive analysis is one of the basic elements of market analysis in marketing. With the development of digitalization, increasingly more digital tools have emerged that enable detailed analyses to be conducted with only a computer and an internet connection. The paper presented explores whether it is possible to conduct a full-scale competitive analysis in the framework of a desk research by means of digital tools only, without resorting to classical methods that require offline marketing techniques. The study uses secondary and primary data from the banking market, as well as internal data from one of banks. Results of the study justify the need for a combination of digital and classical tools. Managerial reasons for not limiting competitive analysis to digital tools have been identified.