Competition Matrix
A competition matrix is a valuable tool within the field of strategic management and market analysis. With the main purpose of visualizing the competitive relationships between different players in a market, a competition matrix provides insight into the strengths and weaknesses of each company or product.
How does competitive matrix work?
The matrix arranges competitors along horizontal and vertical axes, creating a matrix of overlapping cells. Each of these cells indicates how two competitors compare based on specific criteria, such as price, quality, distribution network and customer service. This allows companies to quickly understand their relative position compared to others, which helps them make informed strategic decisions to strengthen their competitive advantage.
