Analysis of your competition is something that must be performed on constant basis. You must know what is positions of your business in relations to crucial competitors. That analysis must result in concrete steps for improvement of your business. With right analysis and concrete improvements of your business in correlation with your competitors you can constantly add fresh business potential energy into your business.
What is competitive analysis?
Competitive analysis is identifying of your most important competitors and then evaluating their positions according to different business factors. After that, you must compare their positions in correlation with your businesspositions and produce concrete future steps to improve your business.
I make one template that will help you in performing this analysis. There are 14 different factors for comparing with your business and 3 free fields about other factors that you think is important. The basic comparative factors included in template are:
- Years of existence
- Location
- Products or services
- Quality
- Price
- Additional services
- Warranty in years
- Business reputation
- Sales funnel
- Sales team
- Marketing
- Finances
- Credit policies
- Image.
The results of analysis you can use in:
- Business plan
- Marketing plan
- Decision making process
- Improvement activities.
Download free template!
You can download this template for free here.
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