Performing competitive analysis is important for a business as it provides insights into the strengths and weaknesses of competitors which helps a company to identify opportunities for differentiation and strategic advantages in the market.
Get a copy of our free competitive analysis template here.
Select File > Make a copy.
Follow the steps below to use our competitive analysis template.
Start by typing your main categories in the first row: CATEGORY, OUR COMPANY, COMPETING COMPANY 1, and so on. These are your comparison points.
Add details like COMPANY NAME, LOCATION, and other basics for your company and the competitors under each category.
Consider what each company does best and areas they can improve on. Fill these in under STRENGTHS and WEAKNESSES.
Note down how each company presents itself in BRAND PERSONALITY and their goals in MISSION.
Detail what your company and competitors are offering in SERVICES and PRODUCTS. Highlight unique features.
Write down how each company markets itself under MARKETING. Include all their strategies like social media and advertising.
Enter the number of employees for each company under EMPLOYEES. This gives an idea of their size and scope.
Remember, businesses and markets change. Revisit and update your analysis to keep it current.
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