About this Competitor Analysis Template
This Competitor Analysis Template was designed to help businesses accurately assess their competitors and make informed decisions about their own strategies. It provides a space to review each competitor and some prompts to get you thinking about what questions to ask about each one.
What is a Competitor Analysis?
A Competitor Analysis is a process where a company evaluates the strengths and weaknesses of its competitors. It involves researching the competition, understanding their strategies, analyzing their products and services, analyzing their pricing and promotional activities, and predicting their future moves. The analysis can help a company to understand what makes its competitors successful, and to come up with strategies to compete more effectively.
When to use a Competitor Analysis
A competitor analysis should be done periodically, ideally on an annual basis. It should also be done any time a company is introducing a new product, entering a new market, or making any other major changes to their business strategy. This analysis can give businesses an understanding of the competitive landscape, identify risks, and come up with strategies to adapt and succeed.
How to use the Competitor Analysis Template
- First, make a short list of the competitors you’d like to analyze.
- Go through each one and start the research process. We’ve allocated a new Card per competitor and have included some prompt questions to help get you thinking.
- There’s also a space to add a more detailed report. Here you can expand on your research and perhaps even put it into context for what it means for your company.
- Add additional Cards for any new competitors you might want to add to the research.
