What is the meaning of competitive analysis?

[penrix]

What is the meaning of competitive analysis?

[Shivangi Panwar]

Competitive analysis does the comparison, between the website I am optimizing, and the website that is ranked highly in search results.

[sulbha]

Competitive analysis is process of identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service.

[yasmineassif]

A competitive analysis is a very critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique and therefore what attributes you play up in order to attract your target market.

You must need to analyse on the below points:

1. Who are your competitors?
2. What products or services do they sell?
3. What is each competitor's market share?
4. What are their past strategies?
5. What are their current strategies?
6. What are each competitor's strengths and weaknesses?
7. What potential threats do your competitors pose?

[Thoughtgrid]

The competitive analysis is analysis of your competitors your business compare in these evaluating the strength and weakness of your competitor this analysis usually part of company business provide context growth plans.

[nancy07]

A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.