Definitions for "Competitive Analysis"
an important part of marketing strategy development and warrants further consideration
The section in which you identify current and potential competitors and analyze their strengths and weaknesses. This will help you fine-tune your own marketing approach. Be specific, detailed and brutally honest; don't let unrealistic optimism, personal bias or wishful thinking affect your view of the competition. Close Window
The assessment and analysis of the respective strengths and weaknesses of a business against its competitors - this might include their product, staff policy or marketing strategies for example.
a formal evaluation in which you review the businesses of one or more companies that compete, directly or indirectly, with your own
Review of key competitors and how your firm is similar and different
Detailed information about who your competition is, what they provide concerning products, services, customer benefits. It provides information on how well you can compete against them.
Gathering information information about your competitors, the services they offer, prices, coupons, special incentives for employees and/or customers, vendors, etc., for the purpose of competing with them.
an essential first step
an important step in your planning - you don't want to show up on-line wearing the wrong clothes
a chapter that must not be missing in any small business plan