Competitor Analysis

Competitor analysis has several important roles

  1. Generate an understanding of your competitor’s past, present and, most importantly, their future.
  2. Help you manage and understand the competitive advantages/disadvantages each competitor offers.
  3. Provide you with the basis to develop strategies to achieve a competitive advantage in future.
  4. Help forecast how competitors might respond to new products or pricing strategies.

Before starting your competitor analysis conducted it is important to get a list of your competitors and also a list of features you want to measure, track and analyse. Vision One offers free competitor analysis as part of our brand awareness, brand tracking projects.

By identifying the strengths and weaknesses of your competitors, you will be able to improve your marketing plans. It will also help you find ways to differentiate yourselves and find commercial advantages (where they exist).

Once you have completed your analysis, you then need to consider a SWOT analysis. A SWOT will help you decide which marketing strategy you should use to get the best results for your business.

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If you are curious to know more about how we could work together, or how our insights can grow your business, then please give call us on 0203 693 3150 or use the contact button below.

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