Competitor Analysis
Competitor analysis refers to the process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.
A competitor analysis is a detailed analysis of a firm’s competitors. It is a detailed evaluation of a firm’s direct, indirect, and future competitors. A competitor analysis helps a firm understand the positions of its major competitors and communicates to the readers of your business plan that you have a complete understanding of your firm’s competitive environment.
Category: Entrepreneurship & Small Business
Previous: ← Market Analysis
Next: Board of Directors →
More from this Section
- Nonprofit corporations
Nonprofit corporations are organizations formed to further the interests and objectives ... - Product attribute map
A product attribute map refers to a map which illustrates a firm’s position in its industry ... - Master franchise agreement
Master franchise agreement is similar to an area franchise agreement, but in addition ... - STTR program
The STTR (Small Business Technology Transfer) program is a government grant program which ... - Entrepreneurial alertness
A sixth sense of entrepreneurs that allows them to see opportunities that others miss, ...