Competitive Analysis
Competitor analysis, or competitive analysis, is a strategic process used by companies to identify and evaluate their key competitors, understand their products, sales strategies, strengths and weaknesses. This analysis provides an in-depth view of the competitive environment and niche in which the company operates and identifies opportunities and threats in the market.
Through competitive analysis, a company can:
- Discover the marketing and positioning strategies adopted by competitors.
- Analyze the products or services offered by competitors, their features, prices and offerings.
- Evaluate competitors’ performance in terms of market share, growth, reputation and brand visibility.
- Identify industry best practices and areas where competitors excel or are lacking.
- Detect emerging trends and market developments that could influence strategic decisions.
- Inform the development of new products or services, or the improvement of existing ones.
- Guide the development or adjustment of one’s marketing and business strategies to differentiate from competitors and capture greater market share.
Competitor analysis can include a variety of techniques and tools, such as public data collection, SWOT analysis, social media monitoring, customer interviews, analysis of online reviews, and use of specific software to monitor competitors. This process is critical for any company that wants to remain competitive and proactively adapt to market changes.
