What is the meaning of competitive analysis?
 

What is the meaning of competitive analysis?

Strategic technique used to evaluate outside competitors. The analysis seeks to identify weaknesses and strengths that a company's competitors may have, and then use that information to improve efforts within the company.

Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses relative to those of your own product or service . A competitive analysis is a critical part of your company marketing plan.

Competitor analysis starts with distinguishing present and potential contenders. It depicts a fundamental limb to direct an industry investigation. An industry investigation gives data with respect to likely wellsprings of rivalry (counting all the conceivable key activities and responses and impacts on productivity for every one of the associations contending in the business).

Researching keywords to assess their search volumes, number of competitors and assumed level of difficulty to rank for your site.

To learn about the competitors activity online is called the competitor analysis.

A competitive analysis is a critical part of your company marketing plan. With this evaluation, you can establish what makes your product or service unique--and therefore what attributes you play up in order to attract your target market.