What is the meaning of competitive analysis?

[bhavesh_11]

What is the meaning of competitive analysis?

[dennis123]

Hi Friends,

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service.

8 quick ways competitive intelligence will improve your business:

1. Identify market gaps that you can fill
2. Determine how your market likes to be served; dislikes as well
3. Identify differentiated methods to attract prospects & serve your customers
4. Isolate, develop, and promote your unique value proposition
5. Detect your areas of strengths and weaknesses versus the competition
6. Analyze market reaction to your marketing strategy
7. Determine your market position
8. Get to know your customers and see them from different perspectives

[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.

[sophiawils59]

A competitive analysis is the process of categorizing and evaluating your competitors to understand their strengths and weaknesses in comparison to your own.

[PoolMaster]

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service. A competitive analysis is a critical part of your company marketing plan.

[yuva12]

Competitive analysis is the process of gathering and analyzing for your competitors, their practices, products strengths and weakness for marketing strategies.

[ritesh3592]

A competitive analysis is a research (usually online) made in order to better understand the competitive landscape and estimate opportunities, weaknesses, threats and strengthens of competing industry players, to optimize future business activities and utilizations (marketing, product, sales or alike)

[RH-Calvin]

A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.

[swapna8]

Identify your competitors and assess their strategy to determine their strengths and weaknesses relative to those of your own products or services. A competitive analysis is an important part of your company's marketing plan.