Competitive Analysis

Competitive analysis is a strategic assessment of competitors within a specific market or industry. This process involves identifying and evaluating the strengths and weaknesses of direct and indirect competitors, understanding their products, unique selling propositions, marketing strategies, customer base, and overall market position. The main goal of competitive analysis is to gain insights that can help a business improve its own strategy, identify market opportunities, and mitigate potential threats. It typically includes examining competitors’ pricing, marketing tactics, product features, and customer feedback. By understanding the competitive landscape, businesses can make informed decisions about their positioning, innovation, and strategies to capture market share.