Competitor Analysis
Last updated
Last updated
AKA Competitive Usability Evaluations, Competitive Audit, Competitive Analysis
Competitor analysis is the process of studying and evaluating other businesses or organisations that operate in the same industry or offer similar products or services. It involves gathering information about their strategies, strengths, weaknesses, market position, and customer base. By conducting competitor analysis, businesses gain valuable insights into their competitors' actions and can identify opportunities and threats in the market. This analysis helps inform decision-making, refine business strategies, differentiate offerings, and gain a competitive advantage by understanding how to better serve customers and stand out from the competition.