What is the meaning of competitive analysis?

[shoppingswag]

What is the meaning of competitive analysis?

[RH-Calvin]

A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.

[myemailverifier]

A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.

Evaluate your competitors by placing them in strategic groups according to how directly they compete for a share of the customer's dollar. For each competitor or strategic group, list their product or service, its profitability, growth pattern, marketing objectives and assumptions, current and past strategies, organizational and cost structure, strengths and weaknesses, and size (in sales) of the competitor's business.




Thanks,
Brenda R.
myemailverifier.com

[sinelogixtech]

Hi Friends,

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service.

8 quick ways competitive intelligence will improve your business:

1. Identify market gaps that you can fill
2. Determine how your market likes to be served; dislikes as well
3. Identify differentiated methods to attract prospects & serve your customers
4. Isolate, develop, and promote your unique value proposition
5. Detect your areas of strengths and weaknesses versus the competition
6. Analyze market reaction to your marketing strategy
7. Determine your market position
8. Get to know your customers and see them from different perspectives

[BangkokDinning]

A competitive analysis is a critical part of your company marketing plan.