Competitive analysis contributes to the success of a business by providing insights into the strengths and weaknesses of competitors. This information can help a business to identify opportunities and threats in the market, and to make strategic decisions about product development, marketing, and branding. For example, if a competitor is weak in a certain area, a business might decide to focus on that area in order to gain a competitive advantage. Similarly, if a competitor is strong in a certain area, a business might decide to avoid competing directly in that area, and instead focus on differentiating itself in other ways. Companies like McDonald's, Apple, Robinhood, and Netflix have used competitive analysis to stay at the top of their industries.
Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against com...
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