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What is the best way to conduct a competitor analysis?

Feature matrix: Find all the features that each direct competitor's product or service has. ...Market share percentage: This helps to identify who your main competitors in your market are. ...Pricing: Pinpoint how much your competitors charge and where they fall on the quantity vs. ...Marketing: What type of marketing strategy does each competitor employ? ...More items...

What is the main task of a competitor analysis?

It involves:(1) Studying their areas of operations,(2) Identifying the customer needs they are trying to satisfy, ADVERTISEMENTS:(3) Finding the territories in which they are selling the products,(4) Estimating their market share, and(5) Assessing their capabilities, objectives, and strategies.

How to write competitive analysis?

The client’s tone of voice can clue you into their culture (bold or cautious, ambitious or conservative) or their technology maturity levels.Appetite for risk, which will impact how you write about risk. ...Possible pitfalls not written about in your section. ...Subtext: what’s beneath the words. ...

How to crush the competition with competitor analysis?

Build an understanding of how the existing market operates and how potential customers rate the competition.Get a good idea of what exactly does the customers require and how you can sell it to them.Develop strategies for how to grow in the current market and expand into new markets.More items...

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