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What is the meaning of competitive analysis?

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

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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

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