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
- Signaling
Signaling is the act of a high-quality individual agreeing to serve on a company’s board ... - Idea-expression dichotomy
Idea-expression dichotomy refers to the legal principle describing the concept that although ... - International new ventures
International new ventures are businesses that, form inception, seek to derive significant ... - Supply Chain Management
Supply chain management is the coordination of the flow of all information, money, and ... - Cost leadership strategy
Cost leadership strategy is the Generic strategy in which firms strive to have the lowest ...