How to do a competitor analysis (template included)

[kexej28769@nongnue]

What is a competitor analysis?
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 bangladesh email list 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 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.