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Competitive analysis can help in identifying areas of weakness in competitors by providing insights into their strategies, operations, and performance. It allows you to understand their strengths and weaknesses, identify opportunities for growth, and make informed decisions about your own strategies. For instance, if a competitor is struggling with their brand image, you can capitalize on this by strengthening your own brand positioning. Similarly, if they are lagging in technical aspects, you can focus on improving your own technology to gain a competitive edge.
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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...
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