Competitor processes analysis: learn what technologies they use, what processes they have, and how they implement them Communications analysis: Once you understand their product, it’s important to know how they approach social media, communication strategies, and what platforms they dominate Competitor SWOT Analysis: Perform a , weaknesses, opportunities, and threats Types of Competitor Analysis Frameworks Once you know the various steps in competitor analysis, you need to know all the various ways one can conduct the process. Marketers and business theorists have come up with a variety of different frameworks and models that can help gather information and put it in perspective.
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SWOT Analysis What can one say about the SWOT analysis that hasn’t been said already? It’s a time-tested tool most will be familiar with comprising four quadrants and 2 dimensions (Internal vs. External and potential Pros vs Cons). via: Xhienne – SWOT pt.svg Its simplicity is its greatest asset, allowing you to map your strengths and weaknesses against Germany Telegram Number Data the market’s opportunities and threats. In a competitive context, it can be used for a TOWS matrix to judge if your internal strengths can offset threats your competitors pose. Simultaneously, it will allow you to identify which competitive threats will be the most harmful to your weaknesses.
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Business Model Canvas A very thorough means of determining the competitor’s business ecosystem. It helps break down almost every link in the competitor’s business operations. As the figure above shows, a business model canvas (or Ostervalder model) identifies: Channels Thailand phone number database Customer Segments Cost Structure Revenue Streams Growth-Share Matrix The growth matrix takes the form of a sales performance analysis when used in a competitive context. It allows users to compare their product portfolio and/or a competitor’s to identify strategies in dealing with the market. Competitor Analysis BCG Matrix The Growth-Share matrix (or Boston Consulting Group Matrix) comes with its own set of strategy prescriptions.