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What do you mean by the term competitive Analysis?
What do you mean by the term competitive Analysis?
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Junior Member
Hi Friends,
Competitive Analysis. Definition: Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service. A competitive analysis is a critical part of your company marketing plan.
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Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats.
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A competitive analysis is a review of your competitive landscape to find out what your competitors are doing. The aim is to understand your competitors so you can plan your business activities accordingly.
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Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service. A competitive analysis is a critical part of your company marketing plan.
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