Can you tell us why do you take a competitive analysis?

[MVMInfotech]

Can you tell us why do you take a competitive analysis?

[thaichacha]

competitive analysis is a critical part of your company marketing plan. This analysis in marketing and strategic management is an assessment of the strengths and weaknesses of the current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.

[Neo_5678]

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited.