What should a competitor analysis include?
A competitor analysis should include your competitors‘ features, market share, pricing, marketing, differentiators, strengths, weaknesses, geography, culture and customer reviews. This article is for new and established small business owners who want to analyze their competition to improve their products or services.
How do you analyze competitive products?
7 tips to help you analyze competitive products
- Start with the Flagship Product.
- Benchmark Your Own Products.
- Go Deep on the Website.
- Watch Videos.
- Get the Real Story from Customers.
- Include Marketing, Not Just Product.
- Track Changes to Identify Product Direction.
What does a competitive analysis look like?
A competitive analysis is a strategy where you identify major competitors and research their products, sales, and marketing strategies. Learn through customer reviews what’s missing in a competitor’s product, and consider how you might add features to your own product to meet those needs.
What are the 3 types of competitors?
The Types of Competitors
When you identify competitors, you have three types to consider: direct, indirect, and replacement. Direct competitors are the businesses that sell a similar product or service in the same category as you. (These are the competitors you most often think about.)