How to do a competitor analysis (template included)
Posted: Sun Dec 15, 2024 10:05 am
Competitor analysis is the process of identifying the strengths and weaknesses of your rivals. In a competitor analysis, you analyze the marketing efforts, pricing, promotion channels, market share, and other details to gain a better understanding of each competitor's marketing strategies.
Analyzing your competition helps you:
understand your industry and competitive landscape;
define your unique value proposition;
get some benchmarks to evaluate your progress;
identify rivals' successful strategies;
refine your marketing strategy to maintain a db telegram competitive edge.
You can then use the results of your competitive analysis to create benchmarks, evaluate your current marketing strategy, and even develop a new one.
How to do a competitor analysis (template included)
Below, we have broken down competitor analysis into four key phases:
Create a competitor list
Develop competitor profiles
Identify competitors' products, prices, positioning and promotional strategies
Identify best practices and create an action plan
img-semblog
Tip: Before you get started, make sure you know how to record all the data your analysis will uncover. We’ve created an easy-to-use template that you can use to walk through each step of our competitor research workflow.
Analyzing your competition helps you:
understand your industry and competitive landscape;
define your unique value proposition;
get some benchmarks to evaluate your progress;
identify rivals' successful strategies;
refine your marketing strategy to maintain a db telegram competitive edge.
You can then use the results of your competitive analysis to create benchmarks, evaluate your current marketing strategy, and even develop a new one.
How to do a competitor analysis (template included)
Below, we have broken down competitor analysis into four key phases:
Create a competitor list
Develop competitor profiles
Identify competitors' products, prices, positioning and promotional strategies
Identify best practices and create an action plan
img-semblog
Tip: Before you get started, make sure you know how to record all the data your analysis will uncover. We’ve created an easy-to-use template that you can use to walk through each step of our competitor research workflow.