Competitive Analysis

Competitive analysis is the process of evaluating and comparing a business’s competitors to understand their strengths, weaknesses, strategies, and market positions. This analysis involves gathering data on various aspects, such as product offerings, pricing, marketing strategies, customer reviews, and market share. The goal is to identify opportunities and threats within the competitive landscape, enabling a business to make informed strategic decisions, enhance its market position, and improve its offerings. Competitive analysis helps companies to benchmark their performance against competitors, uncover trends, and anticipate changes in the market, ultimately guiding tactical planning, product development, and marketing efforts.