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Competitive Analysis

The strength of the competition is key to finding your competitive advantage. Defining your key

industrial competitive pressures provides a framework for developing strategies to your growth.

Analyzing the primary competitor and identifying their Strengths, Weaknesses, Opportunities, and

Threats (SWOT Analysis) help determine target markets, marketing plan, customer service, sales

forecasting and sales planning.

Examining the following will assist in the competitive analysis:

Identify the level of rivalry among competing sellers in the industry

Review strategies of companies to encourage customers to switch from a

competitor

Analyze ease of entry for new competitors

Determine bargaining power for suppliers of key materials and components

Determine bargaining power for buyers of the product

Discover options for product/service distribution

SWOT Analysis

Identifying the Strengths, Weaknesses, Opportunities and Threats of your competition

Strengths of your Primary Competitor

What is your primary competitor’s competitive advantage?

Does the competition have a unique area of specialty or expertise?

Who is the competition's target market?

What are their promotional strategies?

What do their customers really like about them?

How do they communicate to their customers? (Marketing methods

used)

Do they have specific strengths in personnel, delivery, customer service, technology,

promotional materials, or product delivery that will be difficult challenges to overcome?

What new products are they developing?

Weaknesses of Your Primary Competitor

What target markets are they missing or under serving?

What is one thing their customers would change? What do their

customers dislike?

Is their message appropriate for the target market? Does it identify

benefits for using their company or only features?

Are they using the right media to contact their target market?

What are areas of weakness that you can use as attack points?

Can you have a competitive advantage in product delivery time, customer

service, placement/access to the product/service, providing information, saving

Competitive Analysis