Competitor analysis

Definition

Competitor Analysis is the process of identifying, evaluating, and understanding the strengths and weaknesses of your business competitors. It helps you position your offering effectively, anticipate market moves, and identify opportunities or threats.

Benefits

• Identifies market gaps and areas to differentiate
• Helps anticipate competitor strategies and reactions
• Informs pricing, marketing, product development decisions
• Supports risk management and strategic planning
• Enhances customer understanding through comparison