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Competitive analysis can help in attracting and keeping customers by identifying the strengths and weaknesses of competitors. This allows a company to capitalize on the weaknesses of its competitors and improve its own offerings. It can also help in understanding the market trends and customer preferences, which can be used to attract new customers and retain existing ones. Furthermore, it can guide the company in making strategic decisions related to its brand image and positioning.
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Execs need competitive analysis to get outside of what they think they're good at or what their competitors to do and switch course and pivot as they see areas of weakness in competitors for you to act on. Pivot in terms of technical changes or pivot in terms of brand image or brand positioning. No matter what you do, you feel if they actually need to give a presentation on your findings, the second half of the deck is great for that. With this explainer, you'll learn how top companies like McDonald's, Apple, Robinhood, and Netflix use competitive analysis to be at the top of their industry.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...