How do you write a competitive analysis?
When you are in a business or trying to accomplish a project, you will always meet competition. And this is a curse and a blessing. Therefore, it’s also important to keep an eye on the close competition, what that competition is up to, you could be missing out on huge opportunities and can learn from them.
For this reason, performing a competitive analysis is so crucial to your success as a business. It gives you the tools to quickly adapt to any changes in the competitive landscape and potentially capitalize on industry trends that your competitors have not even noticed. When you make competitive analysis, you compare and analyze the strengths and weaknesses of your competitors compared to those of your own business.
Naturally, a competitive analysis report will contain:
- Business’s target market description;
- Distinctive characteristics of your product compared to your competitors’ products;
- Comparisons of pricing models;
- Breakdown of current and projected market share, sales, and revenues;
- Analysis of marketing strategy and social media strategy;
- Description of customer ratings of the features of each competitor.
We provide this Competitive Analysis Report template to help professionalize the way you are working. Our business and legal templates are regularly screened and used by professionals. If time or quality is of the essence, this ready-made template can help you to save time and to focus on the topics that really matter!
This Competitive Comparison Matrix provides for a comparison of strengths and weaknesses for both you and your competitors. Consider both direct and indirect competitors, inside and outside of your industry. Replace the sample data in the unprotected cells in blue with your own information. You can change the Sales Years
referenced in cells, but do not change their purpose!
Using this Competitive Analysis guarantees you will get important insight into your market!
Download this simple Competitive Analysis now for your reference. Making such a comparison just became a little easier!