Competitive Analysis

What is it?

The objective of competitive analysis is to acquire a deep understanding of your competition

When is it useful?

Competitive analysis is a key input into strategic thinking, since it is relative performance vs competitors that matters.

An Example?

 

 

 

 

How do you do the analysis?

The easiest competitive analysis to conduct is generic – describing a competitors’ products, business units and financials on the basis of publicly available data. It can highlight areas for additional research, but has limited ability to provoke strategic insight.
More valuable, but requiring industry expertise, is to identify the few questions that would make a difference to your strategy if you knew the answers and then build the analysis from industry sources. Where does the competitor make most of their profit? For similar products, what is their comparative cost position? What are the competitor’s future growth avenues?

I want to know more

How can you adapt this concept?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: