Competitive Analysis

Competitive Analysis is a strategic research process used by businesses to evaluate and understand their competitors’ strengths, weaknesses, strategies, and market positions. This analysis involves gathering information about competitors’ products, services, pricing, marketing strategies, customer reviews, and overall market performance. The goal is to identify opportunities and threats in the marketplace, assess market trends, and inform strategic decision-making within the organization. Competitive analysis helps businesses to benchmark their performance against competitors, uncover gaps in the market, refine their value propositions, and enhance their competitive advantage. By understanding the competitive landscape, companies can better position themselves to meet customer needs and anticipate changes in the industry.