An in-depth examination and analysis of your competitors allows you to assess their strengths and weaknesses in the market, which helps you to choose and implement effective strategies to build and improve your competitive advantage.
Know thyself, and your opponent!
A competitive analysis is one of the most important aspects of a comprehensive market analysis, and helps you identify your competition, assess their strengths and weaknesses, determine and weigh their attributes, as well as uncover their strategies and objectives in your market segment.
Define and properly differentiate your advantages
Gain insight into elements that drive your competitor's success
Uncover difference-making features you may not currently offer
Identify unserved or underserved gaps in your market
Identify the competition from both direct solutions and competing products or services perspectives.
Competitor DNA Analysis
Investigate positioning, pricing, features, location, differentiation, social media, value proposition, and sales approach.
Given the data, make judgements on positioning, pricing, differentiation or identifying other gaps or opportunities.
More about Competitive Market Analysis
While you’ll probably never know the full nature of your competitor’s business and marketing plans, compiling as much intelligence as possible about how your competitors do business will allow you to better understand them and the segments they serve, their marketshare, how and where they advertise, their channel distribution, along with the pricing, discounts and specials they present.
Uncover ways to be more successful by having a best-case understanding of your competitors business model, sales messaging, product positioning, marketing perspective, target marketing, website setup, social media approach, content marketing and email marketing. Studying and understanding your competition is a main factor in successfully formulating a way to outshine them.