What is Competitor Analysis?
The process of identifying competitors and evaluating their strategies, strengths, and weaknesses relative to your own.
Detailed Explanation
Competitor analysis is a systematic assessment of your current and potential competitors. It involves identifying who your competitors are, understanding their strategies, evaluating their strengths and weaknesses, and determining how they might respond to your strategic moves. This analysis forms the foundation for competitive strategy and positioning decisions.
Real-World Examples
Creating competitor profiles with strengths/weaknesses
Analyzing competitor product features and pricing
Evaluating competitor market positioning
How It's Used
Strategic planning
Product differentiation
Pricing strategy
Go-to-market planning
Related Terms
Competitive Intelligence (CI)
The systematic process of gathering, analyzing, and using information about competitors to make better business decisions.
Competitive Landscape
The overall competitive environment in a market, including all players, their positions, and dynamics.
SWOT Analysis
A strategic planning framework analyzing Strengths, Weaknesses, Opportunities, and Threats.
Put Competitor Analysis Into Practice
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