A competitive analysis tells us the strengths and weaknesses of all competitors with respect to our business. This analysis provides both offensive and defensive strategic context to deal with these threats and opportunities. It is an essential corporate strategy. Any competitive analysis report consists of information about company’s competitors, competitor’s products, strengths and weaknesses of competitors, strategies used by competitors for achieving their objectives and a market outlook. This report should be written in professional manners.
In the marketing planning of business companies can drive a competitive analysis which is actually a critical part can be establish as a mean of evaluation. No doubt, this study will help the business to introduce unique products or services which are thoroughly one-of-a-kind from rivals. However, this is a scientific study develop by the business to make sure that what’re the weak point of competitor & what attributes business can play up in order to attract more customers. In simple words, we can say that this technique will driven by business to evaluate the strategies & policies of the competitors. Other than that, a company can also make sure that how they can overcome the policies of competitors those directly competing with them in target market & equally enjoying the shares of the customer’s dollar.
No two ways about, an effectively completed competitive analysis example will tells us the strengths and weaknesses of our competitors. Yes! This report will show the strategies of rivals with respect to our business. It’s a fact, every business want to flourish, so here the business should have to evaluate the both offensive and defensive strategic context of their rivals. Thus, individual will defiantly find out a way to deal with opportunities which are actually essential for corporate strategies. To all appearances, a competitive analysis template may consists of information about the products/ services of competitors along with other crucial stuff; i.e. their strengths, profitability, growth pattern, marketing objectives, assumptions, current and past strategies, organizational and cost structure, strengths, weaknesses, future planning, threats, objectives and a whole market outlook.
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