Competitor Analysis

BY DR. IMRAN RAMZAN

Competitor Analysis
▪Competitor analysis is the process of identifying and evaluating the
strengths and weaknesses of current or potential competitors in the
marketplace.
▪It involves gathering and analyzing information about competitors,
such as their products and services, marketing strategies, and
financial performance.
▪The goal of competitor analysis is to gain insights into the
competitive landscape and use that information to develop
strategies and tactics that can help a business gain a competitive
advantage.
Competitor Analysis Process

Analyse
Identify
Identify Gather Strengths Develop Monitor and
Opportunities
Competitors Information and Strategy Update
and Threats
Weakness
Competitor Analysis Process
▪Identify your competitors: Start by identifying who your competitors are. You
can use search engines, industry directories, and market research reports to find
out who your competitors are.
▪Gather information: Collect data on your competitors' products or services,
pricing, marketing strategies, distribution channels, customer base, and other
relevant factors.
▪Analyze strengths and weaknesses: Analyze your competitors' strengths and
weaknesses, such as their market share, brand reputation, product quality, and
customer service.
Competitor Analysis Process Cont.
▪Identify opportunities and threats: Identify potential opportunities and threats
in the market, such as new technologies or changes in consumer behavior, that
could affect your business and your competitors.
▪Develop a strategy: Based on the information gathered and analyzed, develop a
strategy that takes into account your strengths, weaknesses, opportunities, and
threats, and positions your business for success in the market.
▪Monitor and adjust: Monitor your competitors' actions and adjust your strategy
as needed to stay ahead in the market.