Competitive Analysis
Also called: supply analysis
A competitive analysis is a form of market research that looks at the environment in which an organization operates and specifically the competitors operating in the same market.
The competitor analysis begins by describing your own services.
The competition is then named, and a distinction can be made between direct competitors and indirect competitors. If necessary, a selection can be made from this enumeration for the analysis. The analysis describes each competitor's strategy and key characteristics of these parties.
Competitive analyses often also look at success factors and pitfalls. What characteristics define the target market? Why do customers buy from company X? Where exactly do they drop out?
The outcome of the competitive analysis can be used for a SWOT analysis. This can be used to determine where one's organization stands in the market in relation to competitors and where there are opportunities for growth.
