Whether you’re a multi-national corporation or a small business that’s just starting out, there isn’t much that will serve you better than a competitive analysis. A competitive analysis will assess your past, affect your present and dictate your future. In fact, it could be the difference between success and failure.
A proper competitive analysis will cover seven key topics:
- Your company’s competitors
- Competitor product summaries
- Competitor strategies and objectives
- Competitor strengths and weaknesses
- Future market outlook
- A SWOT analysis
- Future strategy recommendations