Competitor Analysis How to do it?
Posted: Sun Dec 22, 2024 8:28 am
Conducting a good digital competition analysis is key to implementing successful strategies. It is so important that it should be positioned as the first step before embarking on a new project or even before launching any new product on the market.
We often think we have a unique idea. How can we be sure that it really is unique? If not, what can make the difference? To answer these questions, it is necessary to conduct a competitive analysis .
Throughout the article, from Bloo Media , we tell you everything about this type of analysis: what it is, how to analyze the competition, why it is so important and what the main objectives are.
What is competitor analysis?
Competitor analysis is an taiwan phone number sample analysis that companies carry out on other companies in the same sector (analysis of resources, strengths, weaknesses, characteristics, etc.) with the aim of implementing strategies that allow them to compete with them, take advantage of their weaknesses and take their strengths as a reference.
Here's an example to help you understand it better. Imagine that you're doing a competitive analysis of a company and you find that your biggest competitor's customer service is its main weakness. What should you do? You can create a strategy in which customer service is excellent!
How to analyze the competition?
We detail the main steps to follow to analyse the competition of any company, regardless of the sector:
Identify competitors
The first step is, without a doubt, to identify your competitors. If we do not identify who our main competitors are, we will not be able to analyse them. To do this, consider companies that sell similar products or substitute products to yours. For example: if you sell natural flowers, a competitor could be either a company that also sells natural flowers or a company that sells artificial flowers.
We often think we have a unique idea. How can we be sure that it really is unique? If not, what can make the difference? To answer these questions, it is necessary to conduct a competitive analysis .
Throughout the article, from Bloo Media , we tell you everything about this type of analysis: what it is, how to analyze the competition, why it is so important and what the main objectives are.
What is competitor analysis?
Competitor analysis is an taiwan phone number sample analysis that companies carry out on other companies in the same sector (analysis of resources, strengths, weaknesses, characteristics, etc.) with the aim of implementing strategies that allow them to compete with them, take advantage of their weaknesses and take their strengths as a reference.
Here's an example to help you understand it better. Imagine that you're doing a competitive analysis of a company and you find that your biggest competitor's customer service is its main weakness. What should you do? You can create a strategy in which customer service is excellent!
How to analyze the competition?
We detail the main steps to follow to analyse the competition of any company, regardless of the sector:
Identify competitors
The first step is, without a doubt, to identify your competitors. If we do not identify who our main competitors are, we will not be able to analyse them. To do this, consider companies that sell similar products or substitute products to yours. For example: if you sell natural flowers, a competitor could be either a company that also sells natural flowers or a company that sells artificial flowers.