Competitive Analysis

Competetive analysis produces useful planning information for any type of business, because all businesses have competition. Scenarios in which doing competitive analysis is especially important include ones where you are:

  1. Just entering the market and need to determine whether your business has a chance to succeed.
  2. An expeienced business owner who needs to reassess your competition.
  3. Trying to brand your product and need to gather foundational information in order to make a good decision.

Having information about your competition helps you to plan your business at all stages.

Topic Objective:  Outline the process of doing competitive research.

Your Outcome: Know your competition’s strengths and weaknesses.

Learn More About How to Conduct a Competitive Analysis