What is the meaning of competitive analysis?

[HeavenlyBorn]

What is the meaning of competitive analysis?

[sinelogixtech]

Hi Friends,

Competitive analysis is the research you do in order to dissect, learn more about and asses the strengths and weaknesses of your competitors. It can help you be on top of the game and gain a competitive advantage in your industry.

1. Identify your competitors
2. Know the Objectives
3. Narrow down evaluation areas
4. Identify your stakeholders
5. Pick your data sources with care
6. Fill in the information in templates
7. Publish your research

[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.

[BangkokDinning]

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited

[myemailverifier]

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service. A competitive analysis is a critical part of your company marketing plan.

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited

Thanks,
Brenda R.
myemailverifier.com